Obama provides internal analysis of economic plan

[cal04]

Source: Associated Press

Facing growing criticism of his economic recovery plan, President-elect Barack Obama made public Saturday a detailed analysis by his economic advisers that estimates the $775 billion plan of tax cuts and new spending would create 3.5 million jobs over the next two years.

But the president-elect's advisers concede in the 14-page report Obama posted on the Internet that their estimates are "subject to significant margins of error," both because of the assumptions that went into their economic models and because no one knows the final outlines of the package that will emerge from Congress.

"These numbers are a stark reminder that we simply cannot continue on our current path," Obama said Saturday in his weekly radio and YouTube broadcast address.

"If nothing is done, economists from across the spectrum tell us that this recession could linger for years and the unemployment rate could reach double digits — and they warn that our nation could lose the competitive edge that has served as a foundation for our strength and standing in the world," he said.

Read more: http://news.yahoo.com/s/ap/20090110/ap_on_go_pr_wh/obama_economy

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http://change.gov/newsroom/entry/your_weekly_address/
Turning around unemployment

http://otrans.3cdn.net/ee40602f9a7d8172b8_ozm6bt5oi.pdf

[SpiralHawk]

1. "We must have more tax cuts for the rich." - Republicon Homelander Fatcats

"Too bad about you working Americans. We can depend on our overpaid Republicon Chickenhawk propaganda Spin Corps -- Limbaugh, O'Reilly, Hannity, Beck, etc. -- to convince many of you that this will be good for America. Bwaaaaa ha ha ha ha ha. Suckers. Smirk"

- Republicon Homelander Fatcats

[defendandprotect]

2. Obama advisers say plan would create 3.5m new jobs

Source: AP



Obama advisers say plan would create 3.5m new jobs

By PHILIP ELLIOTT, Associated Press Writer Philip Elliott, Associated Press Writer – 47 mins ago
Featured Topics: Barack Obama Presidential Transition Play Video CNBC – President-Elect Obama Press Conference
Slideshow: President-elect Barack Obama Play Video Video: Obama Q&A CNBC Play Video Video: Jan. 9: Dow sinks on bad unemployment numbers AP AP – President-elect Barack Obama answers questions during a news conference at his transition headquarters … WASHINGTON – Facing growing criticism of his economic recovery plan, President-elect Barack Obama made public Saturday a detailed analysis by his economic advisers that estimates the $775 billion plan of tax cuts and new spending would create 3.5 million jobs over the next two years.

With an eye on Obama having immediate access to bailout money already approved by Congress when he becomes president, his economic team and the Bush administration have discussed having Treasury Secretary Henry Paulson ask lawmakers for access to the $350 billion remaining in the fund.

White House spokeswoman Dana Perino said the administration hasn't decided whether to make such a request, which would be made within the next week. Under the terms of the legislation creating the fund, Congress would have 15 days to reject the request.

The Obama transition team also has asked Neel Kashkari, the head of the rescue program at the Treasury Department, to remain in that position for a short time after the inauguration to help assure a smooth transition, according to an Obama official.



Read more: http://news.yahoo.com/s/ap/20090110/ap_on_go_pr_wh/obama_economy

[Baby Snooks]

3. "But the president-elect's advisers ..."

Keep in mind that Volcker was the mastermind behind the Reagan tax cuts and "stimulus plan" that started us on our merry little way as we moved from "by the people, for the people" to "by the corporation, for the corporation"to "by the crooks, for the crooks."

Just as the Bush plan benefitted the crooks on Wall Street, the Obama plan will benefit the crooks in our state capitols. But no one will realize that until they realize it. And then of course they won't admit it. Molly Ivins would have. And she would be banging the pots and pans.

[Telly Savalas]

4. How will Obama's plan benefit "crooks in our state capitols"?

That's a pretty serious allegation. Care to provide some specific details?

[Baby Snooks]

6. You obviously don't live in Texas...

Part of the plan gives money to the states for "infrastructure" improvements which will create jobs. In Texas, well, I wish Molly Ivins were alive to explain Texas to you.

And Texas isn't the only state with a little "ethics" problem in the governor's mansion and the state legislature.

[Moosepoop]

5. "But the president-elect's advisers ..."

Where is that quote in the article?

[Baby Snooks]

7. First sentence of the second paragraph...

"But the president-elect's advisers concede in the 14-page report Obama posted on the Internet that their estimates are "subject to significant margins of error..."

First sentence of the second paragraph.

[Moosepoop]

8. Ah, I see that now.

I was going by the yahoo article linked at the bottom of the OP, which is different in headline and text than what is posted in the OP.

[stillcool]

9. cool...we're done for..

I don't have to pay attention anymore. What a relief.