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Reporting and analysis from ABC News Chief Washington Correspondent and "This Week" Host George Stephanopoulos

George Stephanopoulos reports on events in politics, Congress and the White House for ABCNews, on the air and online. He interviews top newsmakers, discusses the events of the week and looks to the week ahead each Sunday on 'This Week.'

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Obama Has Votes Now to Pass Stimulus Plan

January 08, 2009 12:16 PM

During his economic speech today titled "The Need for Urgent Action on an American Recovery and Reinvestment Plan" President-elect Barack Obama urged congress three times to pass an economic stimulus package without delay.

He's been just as adamant with bipartisan Congressional leaders on the need to act quickly.

What we saw today was the President-elect essentially giving a State of the Union-type of address on the economy -- even before he is officially President-elect.

It's all because the economic crisis facing the nation is so unprecedented.

If he is successful, he will have passed probably the largest piece of legislation of his presidency in his first 30 days.

We've never seen anything like this before.

He's going to run into a fair amount of skepticism in Congress on this stimulus package.

But he's also done a fair amount of work to get buy-in from both Democrats and Republicans.

About 40 percent of this package will be tax cuts -- which has gone a long way to soften some Republican opposition.

They might be opposed to many other parts of the plan such as some of the spending proposals.

Democrats and Republicans that I talk to on Capitol Hill say that Obama certainly has the votes he needs in the House and likely already has 60 votes in the Senate.

But his goal is to get it up to 80 Senate votes . . . to have complete buy-in from both parties.

--George Stephanopoulos

January 8, 2009 in Barack Obama, Capitol Hill, Democrats, Republicans | Permalink | Share | User Comments (56)

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I heard it is a clean package... no ear marks... no pork... they probably will not pass it tell it is loaded down. Not his fault, it is just Washington as normal. Good luck Obama my prayers are with you. I hope you CAN pull it off for the good of America.

Posted by: becky (the real one) | Jan 8, 2009 12:36:46 PM

I'd almost forgotten what it was like to have an intelligent, capable leader as president. What a relief.

Posted by: hopesprings52 | Jan 8, 2009 12:37:36 PM

I reckon he would get more than 60 votes but not sure about 80!

If Obama's favourability ratings which is 80% remains, then GOP senators would not want to be seen to be a clog in the wheel of progress.

Posted by: Ro | Jan 8, 2009 12:38:19 PM

The Republicans should run away from this. It will not bring a stronger economy and will in fact have the reverse affect because it will increase our debt by nearly a Trillion dollars. Our long term debt is the primary reason for the great uncertainty that exist about our economy.

Let the Democrats pass it on their own so they will receive all the blame when it fails. The Republicans should submit a competing proposal that cuts government to offset the costs of their plan and provide incentives for business and research.

Posted by: James | Jan 8, 2009 12:44:13 PM

What good does it do to go into further debt to throw money away to people that is SO worthless, you can't even buy anything with it? Where is the outrage? Remember the Bush tax cuts? What the hell about this? If the state governments are in debt and selling off state resources, WHY are we giving out a 500 check that can't even cover debt, let alone two weeks worth of food? But no, since the Democrats are doing it, Suddenly, it's just fine! Hypocrisy! Here's a solution, abolish the income tax and keep your own money! Nah, we can't do that, the government has to waste it or give it out to their cronies 1st. And then we'll give you ten cents on the dollar and call it a "Stimulus pacakge!" Pathetic!

Posted by: please! | Jan 8, 2009 12:48:15 PM

Good grief, a package this large needs to have some careful thought and examination. God help us all if this is passed immediately, without either.

Posted by: beth | Jan 8, 2009 12:53:15 PM

So stop the snow job PEBO! :(

Posted by: aware2u | Jan 8, 2009 12:57:26 PM

Please!, you are right. We are going to try to spend our way out of a problem that was caused by spending too much money. In the last year the fed has pumped nearly 7 Trillion dollars into our economy. Has this improved anything? Now, Obama comes along and concludes that spending a few more trillion will do the trick. He simply is out of his league and has no understanding of what the economy is broadcasting very clearly; we have too much debt. We are on the verge of bankruptcy and just like a private citizen with credit card debt, we cannot fix this by borrowing even more money.

Obama will be as hated as George Bush if he continues this approach.

Posted by: James | Jan 8, 2009 12:58:42 PM

And stop the fear-mongering PEBO! :(

Posted by: aware2u | Jan 8, 2009 12:58:57 PM

James: You remind me of my good friend Herbert Hoover.

Posted by: FDR | Jan 8, 2009 1:06:51 PM

Beth,

You know .. its amazing.. your asking for gods help, before Obama is already President. Get over the election already. You might want to give hime a chance, because .. if it wasnt the last 8 years off irrespnsibility.. maybe we would not be praying to god for the failures of bush. And don't just blame congress.. because dems came in power just the last 2 years...

When the GOP had majorities at every level in 2001.. and your ideas were put to use.. it became clear that repubs couldn't govern and your favorite line "government is the problem" laissez-faire policies have been rejected and have been a failure. We had a surplus when clinton was in office.. and it took the last 8 years of a GOP president to put us in this enormous debt.

Government can't solve all problems.. but it has a role to play.. to make sure there is not economic injustice.. and only the priveleged few are making it aka.. Coroporate CEO's like they have under President Bush.

Posted by: O! | Jan 8, 2009 1:07:02 PM

I noticed last Friday that George said that the market was going up because people were excited about Barak Obama. Now that it has fallen again I haven't heard him say that it is because they are depressed about Barak Obama.

Posted by: andrea | Jan 8, 2009 1:08:43 PM

yah, beth and james.. are praying for god's help.. thank god .. your President aka hoover is out of office. Maybe everyone will get a fair shake now.. and not just CEO's..

Posted by: O! | Jan 8, 2009 1:15:06 PM

The whole point is to generate JOBS to keep FOOD on most Americans tables and a roof over our heads. Plus our highways, bridges and schools are a mess and are in need of desperate overhaul. So we kill to birds with one stone. It is more than Bush or any other Repug has done for us this past 8 years.

Posted by: becky (the real one) | Jan 8, 2009 1:17:16 PM

Uhh Obama.Exactly what has been going on in dc all these years besides Government spending? Good gosh man, you just blew through nearly a billion getting elected. Here is an idea, why not give us minions who still have jobs a break on taxes and ss payments, say one week a month for 6 months or a year and we can buy some stuff we need, pay our paymenst on time and the local governments raking in that sales tax could then go out and pave a road or build a bridge or two. And if you could ease back on business taxes a bit who knows there may be some Mom and Pop outfit ever so close to discovering a new cheap non polluting energy source or cure for cancer, you know like Edison or Ford. Of course we could just change and allow the Governemt to get bigger and allow 80 cents of every dollar be spend for admin cost and government employee salaries and benefits instead of the 70 cents per dollar spent doing it now. This will ensure a good block of voters from Government sectors next election and you'll be able to keep them busy handing out biscuits and soup to the rest of us. And you might be able to get elected without spending so much money in 2012.

Posted by: david | Jan 8, 2009 1:18:33 PM

It took 8 years for this President Bushie to take a surplus and put us in this enormous debt.. and i just hope the GOP doesn't think that Obama can solve everything in one day..

Americans know it will take time.. but they are willing to give him time as evidence by his 70% plus approval rating.

Posted by: O! | Jan 8, 2009 1:20:36 PM

James, there are times, such as now, when the economy requires Defibrillation. Back in the 1990s other countries faced their own economic crises – first Mexico, then Asia, then the collapse of Russia. After studying the messes, Nouriel Roubini (economics professor at NYU) found a common thread. These countries spent far more than they made and financed debt by borrowing from abroad + poorly regulated banks borrowed excessively and spent recklessly. Sound familiar?

According to Roubini, we are in deep. Check out Roubini’s blog at www.rgemonitor.com. - Today he agrees the US needs radical policies to prevent this recession from turning into a systemic meltdown and a decade long global economic Depression. Roubini says the US federal government must immediately spend on infrastructure; he also recommends increased unemployment benefits and targeted tax rebates. Times are achangin' - google “Keynesian Economics”.

Posted by: idahogirl | Jan 8, 2009 1:23:56 PM

David,

Your GOP hero, President Bush is the one who has put us in this debt. Not Obama. It is your president.. who increased the size of government.. Not Clinton or Obama.

GOP likes to claim smaller govt.. is good.. but it was your President.. who showed no fiscal responsibility.. i trust a Democratic president to be more fiscally responsible..

We will have to go in a little more debt.. to stimulate the economy.. or we will have double digit employment.. if we dont do anything. But hey... "On your own party" the GOp has turned into doesnt realize this..

Posted by: O! | Jan 8, 2009 1:25:41 PM

I think a better way to save the economy is to give America a 6 Month Tax Holiday!

Oh, I forget, the only people that will benefit from this are the people that WORK and draw a paycheck. The Special Interests and Low Life "LONG TERM" WellFair people don't get anything. This would not go along with the "Spread The Wealth" crap.

The Government has proven over and over it does not know how to spend our money. So, GIVE IT BACK TO US WHO EARN IT and let US decide where to spend it!

Posted by: ajax | Jan 8, 2009 1:26:43 PM

It is your president.. who increased the size of government.. Not Clinton or Obama.--O!

"Your President", huh? So you don't mind the 56,000,000 people do not consider BHO as OUR President?


Posted by: i just love him soooo much | Jan 8, 2009 1:47:36 PM

ajax--Problem being, that Democrats think the masses are stupid peons.

Considering PEBO was able to manipulate the election, I would say they are right.

Posted by: i just love him soooo much | Jan 8, 2009 1:49:20 PM

It's amazing how the democratic congress of Nancy and Harry WROTE THE LAW that handed 750 billion or 8 TRILLION over to the wall street fannie and freddie HACKS and then told us they have NO IDEA what it is spent on.
I guess DEMOCRATS will someday have to come to the realization that their party, the rulers of DC as the congressional majority that can override any potus veto at the drop of a hat, handed TRILLIONS to their "hated corporate ceo's" who have been flying them around on the JETS they whined about coming to DC (for their public deception and liefest points).
Dems, you are the dimmest useful idiot dummies the world has ever seen.
I suppose the USA will crash and burn until the insane led by the nose drooling braindead populace picks up the Constitution and realizes the CONGRESS spends their tax dollars, writes the laws on EXACTLY HOW IT WILL BE SPENT, and the rest of the government merely implements that legal demand and law the CONGRESS wrote up and passed.
Stupid Americans, as you all wail toward the white house, capitol hill is pumping your backside full of hot lead and you haven't clue one.
Congratulations, you are truly idiots.

Posted by: Slickico | Jan 8, 2009 2:43:55 PM

idahogirl, keynesian economics is the basis of the crisis we are in today. Keynes advocated government intervention and supported the New Deal, which remains a primary cause of the irresponsible government we have today. Both parties have followed his failed philosophies. They should be dumped once and for all. If we want to change our government we need new ideas. We cannot spend our way out of an over spending problem.

Posted by: james | Jan 8, 2009 2:44:45 PM

Republicans need to never, never, never, touch for this, let the demobrats have it. Then they can take the fall like the republicans do everytime they are pushed to going along with the demobrats, because this one like all the others is going to fail misserably and at OUR (WORKING CLASS) EXPENSE ! Things keep going like they are and I say we should all stay home and let Obaba take care of us. I'm tire of working and paying taxes to bail out all these morons, especially when I hear where they live, what they drive, and all their retreats they go to. It's time for all the bid wigs to not be living so high on the hog and join us regular folks !!!!!

Posted by: countrygirl_74 | Jan 8, 2009 3:21:53 PM

$775 billion: Expected cost of the economic stimulus plan.

$1.2 trillion: Projected federal deficit for 2009

$30 billion: Annual shortfall to end world hunger.


Political priorities by the numbers. Read more about it on the Borgen Project website (borgenproject.org)

Posted by: Alenka | Jan 8, 2009 3:23:30 PM

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