White House dampens stimulus expectations

[Yurt]

White House dampens stimulus expectations

WASHINGTON (Reuters)- President Barack Obama's aides warned Americans on Sunday not to expect instant miracles from the $787 billion economic stimulus bill he will sign this week, but said it would help eventually.

Obama is due to sign the bill passed last week by Congress in Denver on Tuesday. It was the first major legislative victory of his young presidency, which could rise or fall with its success or failure.

"There will be signs of activity very quickly," David Axelrod, the White House senior adviser, said on "Fox News Sunday." "But it's going to take time for that to show up in the statistics. The president has said it's likely to get worse before it gets better."

White House spokesman Robert Gibbs used similar language on CBS' "Face the Nation."

"I don't think there's any doubt that we've seen this economy has gotten worse just in the last few months. The acceleration in job loss probably means that this economy is going to get worse before it gets better," he said.

http://news.yahoo.com/s/nm/20090215/bs_nm/us_usa_stimulus

somehow i see these comments making wall street fearful and thus probably cause the market to go down. so full of hope obama....

[hjmick]

Pre-emptive damage control. Nice.

[Kathianne]

Pre-emptive damage control. Nice.

He did that with the 'create OR save' x millions of jobs. The masses want to buy it.

[moderate democrat]

He did that with the 'create OR save' x millions of jobs. The masses want to buy it.


and partisan republicans are hoping - PRAYING - that the economy goes into the tank.

how patriotic!:lol:

[Kathianne]

and partisan republicans are hoping - PRAYING - that the economy goes into the tank.

how patriotic!:lol:

Hardly, you don't get the opposition. No surprise there.

[moderate democrat]

Hardly, you don't get the opposition. No surprise there.

so... did I misread you? Do you WANT the stimulus package to succeed and actually help our economy pull out of this steep recession, or don't you?

[Kathianne]

so... did I misread you? Do you WANT the stimulus package to succeed and actually help our economy pull out of this steep recession, or don't you?

If it could and not result in a bigger problem, that would be great. History is not on that side.

[moderate democrat]

If it could and not result in a bigger problem, that would be great. History is not on that side.

so...you hope that Obama's stimulus package WILL succeed? yes or no?

[PostmodernProphet]

hope?...yes.....expect?.....no.....fear the damage it may cause?.....undoubtedly......

[Kathianne]

so...you hope that Obama's stimulus package WILL succeed? yes or no?

I hope the US will come out ok. I don't think Obama's plan, rather Pelosi/Reid plan has a real shot. I do hope I'm wrong. I don't think so though, and everyone, even YOU will pay the price. Going to Mexico will not save you, as they will be hit harder.

[Yurt]

I hope the US will come out ok. I don't think Obama's plan, rather Pelosi/Reid plan has a real shot. I do hope I'm wrong. I don't think so though, and everyone, even YOU will pay the price. Going to Mexico will not save you, as they will be hit harder.

and you know that when the economy fixes itself, obama will take the credit despite the fact that his generational theft bill more than likely harmed the economy and our country in the long run.

wasn't he just out scaring people say this is dire if doesn't pass the economy is going to get worse....now that it is passed, he says the economy is going to get worse....

[Kathianne]

and you know that when the economy fixes itself, obama will take the credit despite the fact that his generational theft bill more than likely harmed the economy and our country in the long run.

wasn't he just out scaring people say this is dire if doesn't pass the economy is going to get worse....now that it is passed, he says the economy is going to get worse....

The problem is, the economy won't 'fix itself', not with trillions in debt. They killed the possibility.

[Little-Acorn]

The joke that was making the rounds before the last November election, is becoming more and more relevant now. That's not a good sign.


A famous Senator died and went up to the Pearly Gates, where he met St. Peter. St. Peter looked through his Book, eyed the Senator, and said, "Well, you've had a varied life. Some good, some bad. To tell you the truth, We're a little on the fence about you. So I'll tell you what We're going to do. You can go down to Hell for 24 hours and see what it's like. Then you can come up to Heaven for the following 24 hours, and see what that's like. Then you can make a choice, of which one you want to spend the rest of Eternity in."

The Senator was surprised, and said, "Well, I can hardly imagine a more fair proposition. I'm ready when you are."

So St. Peter put the Senator in the Big Elevator, and he went down, down, down. The doors opened, and he stepped out. He found himself in a lush green country club. People were playing golf, sipping drinks in the shade, and generally enjoying themselves. All his friends were there, and the came over and greeted him happily. The Devil was there too, as expected, but the Senator found him a surprisingly agreeable fellow.

They went to a big party, and the Senator had a wonderful time, reminiscing with his friends about the good old days, eating caviar and cake, drinking wine etc. When his 24 hours was up, he was understandably reluctant to leave, but he stepped back into the Big Elevator and went up, up, up.

St. Peter greeted him at the top, and said, "Now you'll experience 24 hours of Heaven."

So the Senator entered Heaven, and found it a very nice place too. People were flying gently around with beautiful white wings, sitting on clouds, playing harps etc. There was sweetness and light everywhere, and no trouble or pain. After 24 hours of that, St. Peter came to get the Senator.

"Well, you've had a look at Hell for 24 hours, and at Heaven for 24 hours. It's time for you to decide which place you'll spend all of Eternity in. What's your decision?"

The Senator hesitated, and finally replied, "Well, this may sound strange, but both places were exceedingly nice. But I really think I'd like it better in Hell, based on what I've seen. So that's where I'd like to go."

So St. Peter brought him to the Big Elevator for the last time, and the Senator went down, down, down. He stepped out, and found himself in a brutal, fiery landscape, with heat and sulfur blasting at him from many directions. His friends were there, but they were miserable, toting heavy loads in dreadful conditions, with little to eat and drink, and no respite.

The Devil came up to him and said, "Well, looks like you decided to come here after all."

The Senator stuttered and said, "But what happened to the country club? The lush green fields? The parties, the wine, the caviar? It wasn't at all like this when I was here earlier!"

The Devil replied, "We often get that reaction. You see, yesterday we were campaigning, Senator. Today, you voted."

[moderate democrat]

I hope the US will come out ok. I don't think Obama's plan, rather Pelosi/Reid plan has a real shot. I do hope I'm wrong. I don't think so though, and everyone, even YOU will pay the price. Going to Mexico will not save you, as they will be hit harder.

I hope you are wrong as well.

[Joe Steel]

White House dampens stimulus expectations

WASHINGTON (Reuters)- President Barack Obama's aides warned Americans on Sunday not to expect instant miracles from the $787 billion economic stimulus bill he will sign this week, but said it would help eventually.

Obama is due to sign the bill passed last week by Congress in Denver on Tuesday. It was the first major legislative victory of his young presidency, which could rise or fall with its success or failure.

"There will be signs of activity very quickly," David Axelrod, the White House senior adviser, said on "Fox News Sunday." "But it's going to take time for that to show up in the statistics. The president has said it's likely to get worse before it gets better."

The stimulus is going to restore American prosperity and the American Dream but you'll never know it from the AmeriCorporate Media. All the major outlets and their vacuous talking heads, as usual, will do nothing more than deliver rightwing talking points. Axelrod is just doing a little defensive spinning.

[red states rule]

Anybody else notice a pattern with Obama, and his campaign staff in the liberal media?

Lofty rhetoric, talk of hope and change, and how great accomplishments are on the way - followed by how the masses need to lower their expectations

[Kathianne]

Well they are trashing the economy daily, to get their spending bill, disguised as a 'recovery bill', passed. MD is right, they own this sucker, lock, stock, and barrel.

I like this take:

http://pajamasmedia.com/rogerkimball/2009/02/15/now-they-tell-us/


...They haven’t even extracted the money yet and already they’re telling us poor suckers “not to expect instant miracles from the $787 billion economic stimulus bill he will sign this week, but said it would help eventually.”

Eventually? As in that “long run” about which Lord Keynes said, “in the long run we’re all dead”?

Something like that. White House spokesman Robert Gibbs today said that “the economy is going to get worse before it gets better.”

And what about the 3.5 million jobs the current President of the United States said his spending orgy would “save or create.” (Save or create? What does that mean? How would you measure the saved jobs?))

Oops, now it’s 2.5 million by the end of 2010.

But wait, there is a light, sort of, at the end of the tunnel: “Obama himself said last week that if he failed to heal the economy, he would be out of a job by 2012.”

Delayed gratification, to be sure, but something to look forward to.

[red states rule]

Well they are trashing the economy daily, to get their spending bill, disguised as a 'recovery bill', passed. MD is right, they own this sucker, lock, stock, and barrel.

I like this take:

http://pajamasmedia.com/rogerkimball/2009/02/15/now-they-tell-us/

Three days ago the world would end if time was taken to read it.

Now 3.2 Trillion later we are not to expect much? Since Obama put off signing the bill, the couple extra days could have been used for members of Congress, and the taxpayers. to read what is in it

[Trigg]

The stimulus is going to restore American prosperity and the American Dream but you'll never know it from the AmeriCorporate Media. All the major outlets and their vacuous talking heads, as usual, will do nothing more than deliver rightwing talking points. Axelrod is just doing a little defensive spinning.


The sky must be purple and sparkly in your world.

In mine the ONLY news station bothing to ask hard questions is FOX. CBS and NBC are to busy falling all over themselves to praise the wonder and great bambam.

[Immanuel]

Anybody else notice a pattern with Obama, and his campaign staff in the liberal media?

Lofty rhetoric, talk of hope and change, and how great accomplishments are on the way - followed by how the masses need to lower their expectations

Gee, sounds like every other politician I have heard speak. Go figure! Hope... yes, Change... doubt it.

What's that saying, Hope in one hand, Sh!t in the other and see which one fills up first?

I absolutely, positively hope this plan succeeds, because the damage it will cause if it fails will likely be astronomical.

Immie

[Trigg]

Gee, sounds like every other politician I have heard speak. Go figure! Hope... yes, Change... doubt it.

What's that saying, Hope in one hand, Sh!t in the other and see which one fills up first?

I absolutely, positively hope this plan succeeds, because the damage it will cause if it fails will likely be astronomical.

Immie

I don't know that the damage will be astronomical, but we will be in debt up to our eyeballs.

Listening to the congresstional budget office my hopes aren't very high for this "stimulus". They're saying there will be a short term gain in 2010 and then things will be just the same as they would have been if there had been no stimulus.

Really gets your hopes up doesn't it.





President Obama's economic recovery package will actually hurt the economy more in the long run than if he were to do nothing, the nonpartisan Congressional Budget Office said Wednesday.

CBO, the official scorekeepers for legislation, said the House and Senate bills will help in the short term but result in so much government debt that within a few years they would crowd out private investment, actually leading to a lower Gross Domestic Product over the next 10 years than if the government had done nothing.

[Immanuel]

I hate to say this, but in some ways I agree with Joe Steel. Regardless of the ultimate outcome of the spending bill, Conservatives/Republicans will declare it to be a total failure and Liberals/Democrats will be declaring Obama to be God. You will have to realize how bad the economy would have gotten if Obama hadn't acted as he did. In fact, he didn't save 4 million jobs, he saved 40 million jobs!

Immie

[Trigg]

I hate to say this, but in some ways I agree with Joe Steel. Regardless of the ultimate outcome of the spending bill, Conservatives/Republicans will declare it to be a total failure and Liberals/Democrats will be declaring Obama to be God. You will have to realize how bad the economy would have gotten if Obama hadn't acted as he did. In fact, he didn't save 4 million jobs, he saved 40 million jobs!
Immie


Even the congresstional budet office, which is supposed to be non-partisan, isn't giving this stimulus rave reviews.

Personnally if it saves jobs, than great. I don't think it will do anything more than the previous 3 did though, except for put the US further in debt.

[Immanuel]

Even the congresstional budet office, which is supposed to be non-partisan, isn't giving this stimulus rave reviews.

Personnally if it saves jobs, than great. I don't think it will do anything more than the previous 3 did though, except for put the US further in debt.

I agree. If it saves jobs that will be great, but how will that be determined? Conservatives will claim it didn't save one job. Liberals will claim it saved 40 million. Who is to know.

And when you get right down to it neither side will be honest about the actual affects of the spending bill.

Immie

[Sitarro]

and partisan republicans are hoping - PRAYING - that the economy goes into the tank.

how patriotic!:lol:

Actually, that is what the Democrats worked on for the last eight years. They had to have the economy tank to get this inexperienced, political hack and his pathetic team of tax cheats and liars into power and you were stupid enough to buy into it. I have to give it to the democrats, they do know their constituency........ a bunch of team sports absorbed idiots that depend on their heroes in sports, Hollywood and the record industry to tell them who to vote for.

This is what you get when you let anyone vote.

[Trigg]

I agree. If it saves jobs that will be great, but how will that be determined? Conservatives will claim it didn't save one job. Liberals will claim it saved 40 million. Who is to know.

And when you get right down to it neither side will be honest about the actual affects of the spending bill.

Immie

It'll be determined by the unemployment rate, either that goes down or it continues to go up. Right now its around 7.6% if it gets better AND STAYS THERE, it's a success. If it gets better by a blip and then inflation rears it's ugly head, it's a failure.

You are completely right about the politicians not being honest, they are lawyers after all, no one really expects them to tell the truth.

[Yurt]

i find obama's actions regarding this troubling...he goes around and scares the crap out of people telling them if it doesn't pass right away we are all screwed, then it passes and he says:

ah, don't get your hopes up, its no big deal, stimulus may or may not work and if does, it will take a long time.

IOW, he can't fail. because economic factors could have turned themsevles around SOONER had obama not fear mongered people into supporting this bill, but how can you tell that for sure.

[Immanuel]

It'll be determined by the unemployment rate, either that goes down or it continues to go up. Right now its around 7.6% if it gets better AND STAYS THERE, it's a success. If it gets better by a blip and then inflation rears it's ugly head, it's a failure.

You are completely right about the politicians not being honest, they are lawyers after all, no one really expects them to tell the truth.

But my point is, though, that the unemployment rate could hit 10% and Democrats will still be saying that if they had not acted when they did, it would be 15%. There will be little way to judge the effect of the spending bill. The right will call it a failure if unemployment reaches 5% again and consumer confidence skyrockets while the left will claim success regardless of where the numbers end up. Again, it would have been worse if they had not acted as they did.

President Obama hedged his bet when he said "saved". There is no way to quantify such a number. Gotta hand it to him.

Immie

[Yurt]

But my point is, though, that the unemployment rate could hit 10% and Democrats will still be saying that if they had not acted when they did, it would be 15%. There will be little way to judge the effect of the spending bill. The right will call it a failure if unemployment reaches 5% again and consumer confidence skyrockets while the left will claim success regardless of where the numbers end up. Again, it would have been worse if they had not acted as they did.

President Obama hedged his bet when he said "saved". There is no way to quantify such a number. Gotta hand it to him.

Immie

yup, obama put himself over country. instead of giving us hope, he hedged himself agaisnt history so that there can be virtually no way to tell if he succeeded or not. the dems need to accept reality and that it is, even obama doesn't have alot of faith whether this will work, he has faith that he wants the money to further his and ACORN's agenda, but that is it.

[red states rule]

yup, obama put himself over country. instead of giving us hope, he hedged himself agaisnt history so that there can be virtually no way to tell if he succeeded or not. the dems need to accept reality and that it is, even obama doesn't have alot of faith whether this will work, he has faith that he wants the money to further his and ACORN's agenda, but that is it.

Knowing a tiny, four legged rodent is getting more from the mega pork bill than 30 Million Americans tells you the Dems prioirities

Mickey, and Minnie should have a Special Day at Disney World called 'Mouse Stimulus Day' - and invite Obama, Pelosi, and Reid to the party