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Goal: Stimulus Package on Obama's Desk by Jan. 20
November 23, 2008 8:11 PM
Democratic sources tell ABC News that President-elect Obama's transition team is working with lawmakers on Capitol Hill so that on Obama's first day in office, Jan. 20, 2009, an economic stimulus package has passed both houses of Congress and is awaiting his signature.
Spokespeople for the Obama transition team did not have any immediate comment.
Immediately after his victory on Nov. 4, Obama begged off being too specific on his immediate agenda, saying the United States only has one president at a time.
But the continued economic downturn -- further drops in the stock market, consumer spending dropping off dramatically, auto sales down and automakers pleading for a bailout, rising unemployment, collapsing oil prices, recessions declared abroad -- has clearly changed his mind.
One of his top economic advisers, Austan Goolsbee, today described the Bush administration as "dithering" when it comes to the tanking economy.
Wall Street executives have been telling the Obama team for days that the president-elect needed to send a signal that he is on the case.
On Friday afternoon, Obama's team leaked the name of his Treasury Secretary nominee, New York Federal Reserve Chairman Tim Geithner, prompting a late-day rally; the market shot up by more than 500 points.
On Monday morning in Chicago, Obama will introduce key members of his economic team -- Geithner and soon-to-be National Economic Council director Larry Summers -- and will reiterate what he said in his Saturday weekly radio address: that he will push for a massive stimulus package proposal, one much larger than the $175 billion he proposed as a candidate, perhaps as high as $500 billion. Obama is not expected to give a specific price tag for the stimulus package on Monday.
Some Democratic officials cautioned that having such a pricey bill on President Obama's desk by Jan. 20 might be too ambitious a goal, especially in the Senate where Democrats do not have enough seats to prevent a Republican filibuster.
- jpt
November 23, 2008 in Obama, Barack | Permalink | Share | User Comments (76)
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My questions is, how is the stimulus package helping everyone? There isn't a check being mailed out to anyone. Only people working are getting extra in their check. Many, MANY people are UMEMPLOYED....so how is it helping them and I'm sure many of them voted for the new President.
Why do they think Obama is going to buy them new furniture, groceries, cars, clothes, without having to work. Is the generation changed where they are used to parents buying items for them and they don't have to work. So now they expect the President to give them an allowance to live on, so they don't have to work.
Posted by: Jodysm | Feb 21, 2009 8:55:22 PM
Ok here is the deal I have said it once and I will say it again.. WE NEED A WOMAN in office.. sometimes I wonder (no offence ar anything) if all men have been dropped on there dam heads.. What the hell is everyone afraid that a woman will go menapausle and blow up Iraq. Come on people I mean yea we have had some good guys in office but dam a woman would kick ass Im sorry but they would..
Posted by: None | Feb 17, 2009 1:12:00 AM
I find this panic driven bill, nothing but smoke and mirrors. Text of the bill, at least what little we have been allowed to read, will do little for the economy, will kill more jobs than it creates, largest creation of jobs will be in more government agencies and committees.
These folks (Congress), already csn not tell us where the last bailout went and have no real data to support it did anything except allow banks to spend and waste more. This is same folks that allowed the failures in Wall Street mismanagement. They already had over sight, where were they for last 10+ years that this has been building to breaking point?
The only stimulus any of us will see falls in the same way our wind fall profits tax of the 70,s and 80's. Still waiting for that myself. And our energy independence promised by Carter Administration in the 70,s.
Don't hold you breath, result of all this really boils down to how much food and basic living costs will go up. Check you bill at super market and gas pump next time and you will see just how directly this affects you.
It does not take a wizard or scholar to realize how much you will be out of pocket.
Posted by: Ben | Feb 12, 2009 7:31:04 AM
The American Working PEOPLE have suffered long enough while "most" politicians are kicking-it-up five days out of seven. Their two-day work week, limo services, extravagent benefits, etc. MUST CEASE! The cut-backs should begin in D.C. (i.e. jobs, salaries, benefits). And Obama's "Strangulation Package" will drive America to the point that we have to depend on other countries to keep us up. That means they'll tell us what we can and can't do. GOD did not bless this country for man to corrode its value and morals. Folks, those that are guilty of doing wrong will pay dearly...and Hell doesn't have a bail-out plan!
Posted by: Glenn | Feb 4, 2009 6:33:16 PM
i am really looking foward to getting a rebate but the reality to this is it might not happen ... i wonder if our congress knows what it is like to work at a low paying job trying to support 2 other mouths and pay rent ... seems like the entire us will be homeless in no time !!!!
Posted by: Rachel | Feb 2, 2009 2:34:22 PM
I can't believe us as Americans are sitting back and letting our Congress do this. They are OUR representatives. They are public SERVANTS. They should be working for our best interest. Do you realize there is over $4B going to ACORN in this bill. Hmmmm...if I remember the debates right...Obama said over and over he didn't have dealings with ACORN. YEA RIGHT!!! The $4B is a "thank you" for the voter fraud that helped get the liar elected!
There are many other "hand-outs" that are buried in this bill and there is nothing that can be done about it.
Someone in a previous post mentioned that not keeping jobs in the US was hurting future generations. Do you not think creating this obscene debt will hurt generation after generation to come?
Another gentleman said thank God for Obama. Sir, I'm not sure what God you serve but obviously its not the same one. I read and follow the example and commandments given in the Holy Bible and Obama does not seem to be a follower. I pray for this nation. I pray for our "leaders". I pray that something will happen so they might look to God for answers and restore some descency and good 'ol fashion common sense thinking back into our Congress as well as the American society as a whole.
Posted by: Cory | Jan 29, 2009 10:45:27 AM
If it passes does that mean we will once again get some sort of Rebate because times are hard and we need some help since we don't qualify for the EIC as poor people do.
Posted by: WILLIE | Jan 28, 2009 3:16:38 PM
Go OBAMA !! Before you got elected I had great FAITH that you would be selected our next best president, no doubt.. I know that GOD will use you to help get most of the mess cleaned up in the USA. There could be no better choice than to have you selected as the United States of America president 2009. You are honest and said that it won't be easy but you assured us that together we CAN make the change and we WILL.. God bless you, your family, the troops who fight and suffer for our country in the name of Jesus, AMEN!! P.S. Democrats are the BEST !!
Posted by: Vonciel | Jan 21, 2009 9:32:39 AM
I agree, that the economy needs to turn around. We need to build America again, with businesses that the manufacturing stays in our country, and also owning the company. Helping to buy more American, and looking twice at where the product is made. China is putting lead on toys, and America is not checking throughly at the products. This is hurting us and future generations. We need to clean up the mess and become a Strong US Again. This doesn't all have to do with any President. It is working together, not expecting the other person to do your job for you. If you wait for someone else to do it, then you want to live a country where the decisions are made for you. Doing it yourself show independence of your freedom here. You make the call.
Posted by: Ann | Jan 20, 2009 8:04:44 PM
we must build factories buy american only end nafta give every american 200.000 problem solved
Posted by: kevin | Jan 18, 2009 12:35:43 AM
My Voice you are soo right... people want to blame all of this on the Congress or President and not take any blame on themselves. Reality Check people... we did this, and WE have to undo this. We can not sit back and hope someone bails us out. Stop being lazy and get a damn job. There are jobs out there, however lazy americans won't work them. Now is not the time to be greedy anymore, wake up and smell the roses. Oh and suger... PLEASE, you and everyone of your political buddies are what is wrong with this world, stop blaming someone else, or another group and put yourself into check.
Posted by: Denise | Jan 12, 2009 9:45:35 AM
I cant wait to recive this money I really need it and hopefully this year will be better than last year when thing were really tough! GO OBAMA
Posted by: My Voice | Jan 11, 2009 9:36:03 PM
George W. Bush did not put this country in the position that it is in today. Congress did and so did the american people who voted for the dumb people who work in congress. There should be an age limit when working for congress. And as for the stimulus package the only company to benefit from it is the legalized mafia / IRS.....
Posted by: DD | Jan 3, 2009 4:32:09 PM
There is no shortage on oil. Think about it people God created this world! He knew how many people would populate it. He knows how many resources we would need, He surely did not create a lack of anything. It is just the greedy people controlling everything that has created need and lack, and are causing all this economic mess. While we are are struggling. They are prospering . This economic mess didn't just happen it was planned.
Posted by: robin | Jan 2, 2009 8:59:37 AM
Stop giving jobs to people that do not have social security numbers. Stop giving people coming from other countries into our countries money to start a business. And give us a stimulus check that will actually help the people & the economy.
Posted by: HALO | Dec 16, 2008 3:17:56 PM
THAT'S IT!!! Jubilee and Kara..you guys' comments are the ONLY 2 comments that I've read that makes all the sense in the world, REALLY!....these 2 comments should be put on Barack's desk ASAP..PDQ QF and IADH! (pretty damn quick) (quickfast)and (in a damn hurry)Just these 2...THAT'S IT!!!...well maybe 3 counting my follow up comment of...HECK YEAH!
Posted by: Shaun | Dec 2, 2008 1:11:19 AM
To an earlier post by Rodney....
Oil which is used to produce fuel is a non-renewable resource....you can't have permanent LOW gas prices on a scarce product....
Do your research before you start preaching....
Posted by: Lauren | Dec 1, 2008 11:24:21 AM
The bottom line is jobs, retention and creation. Giving out free money is dumb. It was dumb before and it is dumb for the future. Anyone who isn't working, find them a job. You can't get hired to be the CEO of a company with no experience. If you lost your job...start over. Won't get a job and can't get a job are 2 different things. Live off your job...not the gov't. This country is becoming a 'gimme, gimme and gimme more' country. When all the help wanted signs are taken down, then complain.
Posted by: Bill | Nov 26, 2008 1:15:38 PM
jw
you have it right ,but turning back the clock will be most difficult----the top 5% are in controll---and some idiots dont want to tax them a little more.
Posted by: rodney | Nov 24, 2008 3:35:28 PM
all the stimulus will only help temporary-----it is all the jobs that are gone and the massive trade deficit----thanks to the last 16 years of corrupt government----try to stop nafta and china trade agreemnents now----people like wallmart are cleaning up all the money,and selling you junk.and doing it on your lost jobs.
Posted by: rodney | Nov 24, 2008 3:19:34 PM
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