Saturday, July 18, 2009

......be Patience

Is the love affair over??? Click the link for video. One point of interest as you read the first paragraph. Did Obama ever tell the public that "collapse" was even a possiblity? Not even close. But guess what? It's not a matter of "if", it's when.
Obama Urges the Public for Patience
In his weekly radio and Internet address, President Barack Obama urged Americans to have patience in his $787 billion stimulus package, saying that the legislation saved the economy from the brink of collapse and expressing optimism that the economy would start showing tangible signs of improvement toward the end of Summer and into the Fall.
Despite being in the middle of an overseas trip that took him to Russia, Italy and Ghana, the president used nearly all of the almost eight minute address to respond to critics of the stimulus package - on both the left and right - and defend the massive spending bill.
“The recovery act wasn’t designed to restore the economy to full health on its own, but to provide the boost necessary to stop the freefall,” President Obama said. “It was designed to spur demand and get people spending again and cushion those who had borne the brunt of the crisis.”
In recent weeks, critics of the plan have taken note of the poor job numbers released by the U.S. Labor Department and sought to tie those numbers to the stimulus package that the administration claimed would save millions of jobs and keep the unemployment rate below 8 percent. Currently the unemployment rate is at a 26-year high of 9.5 percent and is almost certain to surpass the 10 percent mark by the end of the year.
"Remember the promises? They promised you that if you paid for their stimulus, jobs would be created immediately," House Minority Whip Eric Cantor (R-VA) said in his own weekly radio address. "In fact, they said that unemployment would stay under 8 percent. Yet just months later, they are telling us to brace for unemployment to climb over 10 percent. They promised jobs created. Now they scramble to find a way to play games with government numbers by claiming jobs saved."
Critics on the left have also hammered the president and his administration for what they see as a stimulus package too small to be effective and compromised by the inclusion of billions of dollars in tax cuts at the insistence of Congressional Republicans - a combined three of whom voted for the final version in both the House and Senate. Those on the left have called for the creation of a second stimulus package, however, Obama rejected that notion in his weekly address.
Obama also responded to critics that claim his administration is trying to do too much too soon. He said that his health care, education and environmental reforms were key to putting the economy on more solid ground in the future.
“I am confident that the United States of America will weather this economic storm,” Obama said. “But once we clear away the wreckage, the real question is what we will build in its place. Even as we rescue this economy from a full blown crisis, I have insisted that we must rebuild it better than before.” RED ALERT!!! What is Obama's idea of "better"?
The increased focus on the stimulus act and the domestic economy are a reflection of Obama’s falling poll numbers. While still on decidedly solid ground, polls show public confidence in the administration’s response to the crisis is beginning to wane. A Washington-Post/ABC News poll conducted in late June found that 52 percent of Americans believe the stimulus package will restore the economy, down from 57 percent just two months earlier.
The White House seems very concerned about the diminishing support, especially in politically important states like Ohio. There, the unemployment rate is already over 10 percent. The sorry state of the economy in the Buckeye State has caused Obama’s approval numbers to plummet recently. His approval rating is down to 49 percent in the state, according to Quinnipiac University Poll, down from 62 percent in May. In response, the White House sent Vice President Joe Biden to Cincinnati last week to trump the stimulus plan. The unemployment rate has also surpassed 10 percent in the key electoral states of Indiana, Michigan and Florida.
Even with falling poll numbers in politically important states, 2012 is a long way off and Obama attempted to reset the American people’s focus on the bigger picture.
“The recovery act was not designed to work in four months,” the president said. “It was designed to work over two years. We also knew that it would take some time for the money to get out of the door.”
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