Apr 14 - President Obama: “We cannot rebuild this economy on the same pile of sand.”

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 9 years ago '07        #1
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jasonsam21 
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Apr 14 - President Obama: “We cannot rebuild this economy on the same pile of sand.”
 

 
Today President Barack Obama gave what The White House described as a “major speech on the economy.” In what can be described as a tempered response to the recent run of good news on Wall Street, Obama spoke with careful language, warning that America “is not out of the woods,” but that better days are around the corner.

While the President made his world debut last week in Europe, the American economy began to show a little life as the Dow Jones jumped 300 points in one day. This was partly due to news that the G-20 will inject $5 trillion dollars into the world’s economy.

However, Obama changed his language a bit with his speech at Georgetown. Instead of stating that the economy was in its worst shape since the depression; the President chose to angle his speech on middle ground.

President Obama was sure to accentuate that his administration was not responsible for the current run of economic bad luck, but was instead thrust into this position.

But like “no drama Obama,” the President chose to speak about reasons. Reasons why the economic state is so dire, how we arrived at our current location, and how he plans to dig us out of the ditch that we put ourselves in.

“It is simply not sustainable to have a 21st century financial system that is governed by 20th century rules and regulations that allowed the recklessness of a few to threaten the entire economy. It is not sustainable to have an economy where in one year, 40% of our corporate profits came from a financial sector that was based too much on inflated home prices, maxed out credit cards, overleveraged banks and overvalued a.ssets; or an economy where the incomes of the top 1% have skyrocketed while the typical working household has seen their income decline by nearly $2,000,” stated the President.

This was tough talk from the President who just days ago stated that the economy was showing “glimmers of hope.”

Toward the latter part of his speech, President Obama gave his current a.ssessment of where we currently stand.

“2009 will continue to be a difficult year for America's economy. The severity of this recession will cause more job loss, more foreclosures, and more pain before it ends. The market will continue to rise and fall. Credit is still not flowing nearly as easily as it should. The process for restructuring AIG and the auto companies will involve difficult and sometimes unpopular choices. All of this means that there is much more work to be done. And all of this means that you can continue to expect an unrelenting, unyielding, day-by-day effort from this administration to f!ght for economic recovery on all fronts.”

Though the President remains guarded in his hopes, he did lay out his administration’s plan to fix the economy.

There will be new rules for Wall Street, investments in education, healthcare, and energy, and cuts in the federal budget to outdated programs and plans that are no longer needed.

Moving forward, it will be interesting to see how the President will deal with Wall Street over the next three years of his Presidency. He has stated that deregulation is partly to blame for this crisis and has had tough talk for irresponsible banks.

All in all, the President’s speech serves further proof that the American people trust and believe in his plan for our economic future.

In a CNN/Opinion poll released today, 58% of Americans believe that Obama has a clear-cut plan to improve the economy.

His speech was tough, his speech was cautious, but most of all; the President’s speech was fearless.


[pic - click to view]

 http://www.examiner.com/e .. e-pile-of-sand


Last edited by lilsnatch770; 04-14-2009 at 07:11 PM.. Reason: Post the whole article

129 comments for "Apr 14 - President Obama: “We cannot rebuild this economy on the same pile of sand.”"

 9 years ago '04        #2
tommymm96 2 heat pts
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good read.. props
 9 years ago '05        #3
AirForce318 
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you cannot repay debt with debt...even if we do manage to get out of the recession, we will never be out of debt if the federal reserve continues to "make" OUR money and give it to us with interest...we can pay the capital but where is the money for the interest?
 9 years ago '07        #4
CadillacVyse 1012 heat pts1012
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 AirForce318 said:
you cannot repay debt with debt...even if we do manage to get out of the recession, we will never be out of debt if the federal reserve continues to "make" OUR money and give it to us with interest...we can pay the capital but where is the money for the interest?
we did it when Reagan raised the debt...why not now?
 9 years ago '09        #5
DJ Geezy 11 heat pts11
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This clown is more concerned with his new ugly a.ss dog...
 04-14-2009, 07:25 PM         #6
Lord Hater 
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 04-14-2009, 07:34 PM         #7
stepyourgameup 
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Gotta give him props for the honesty. Bush would've simply put up a banner reading "Mission Accomplished".
 9 years ago '07        #8
CadillacVyse 1012 heat pts1012
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 stepyourgameup said:
Gotta give him props for the honesty. Bush would've simply put up a banner reading "Mission Accomplished".

[pic - click to view]

 04-14-2009, 08:06 PM         #9
ill800 
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more NWO propaganda from obamanatti
 04-14-2009, 08:52 PM         #10
allabout$ 
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I don't know why there would be any hate. This guy is trying. There are no guarantees here. I find it sad that the moment this country is on a tightrope, we hire a black president to fix it. That way, we'll blame the country's downfall on a black dude. Anyone else feel me here?

It's still only april. It's only been 3 months. Things are looking somewhat alright. Let's just hope for the best. stop hating. support. it's not like he is being a dishonest douchebag like bush. he's being 100% honest with us. or at least as honest as he can be.
 04-14-2009, 09:07 PM         #11
killya 
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waits for someone to bring up the NWO
 9 years ago '04        #12
Screwhead|m 194 heat pts194
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 AirForce318 said:
you cannot repay debt with debt...even if we do manage to get out of the recession, we will never be out of debt if the federal reserve continues to "make" OUR money and give it to us with interest...we can pay the capital but where is the money for the interest?


Paying off the interest alone is becoming a bigger expenditure than paying the debt.
 04-14-2009, 09:31 PM         #13
Motivated 
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 allabout$ said:
I don't know why there would be any hate. This guy is trying. There are no guarantees here. I find it sad that the moment this country is on a tightrope, we hire a black president to fix it. That way, we'll blame the country's downfall on a black dude. Anyone else feel me here?

It's still only april. It's only been 3 months. Things are looking somewhat alright. Let's just hope for the best. stop hating. support. it's not like he is being a dishonest douchebag like bush. he's being 100% honest with us. or at least as honest as he can be.



my older brother said the same stuff lol..that is bad
 04-14-2009, 09:32 PM         #14
ill800 
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 killya said:
waits for someone to bring up the NWO
i already did...

anyway better k!ll the nwo talk before lillp***y, i mean lilsnatch moves this thread the knowledge corner.
 9 years ago '04        #15
Screwhead|m 194 heat pts194
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 ill800 said:
i already did...

anyway better k!ll the nwo talk before lillp***y, i mean lilsnatch moves this thread the knowledge corner.
 9 years ago '04        #16
DubA169 3 heat pts
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 allabout$ said:
I don't know why there would be any hate. This guy is trying. There are no guarantees here. I find it sad that the moment this country is on a tightrope, we hire a black president to fix it. That way, we'll blame the country's downfall on a black dude. Anyone else feel me here?
my short answer to you is no

really... you are reaching hard. The f**k are you smoking lol? you think there is some connected stream of consciousness and everyone came up with that reason to vote for Obama?

"ohhh yeah well bush f**ked up so bad that if we vote for a black guy then we can just blame it on him when he f**ks up!"

 04-14-2009, 09:54 PM         #17
Tattered_Hoody 
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 stepyourgameup said:
Gotta give him props for the honesty. Bush would've simply put up a banner reading "Mission Accomplished".
the neocon mission in iraq was accomplished

permanent military presence
contractors making billions
tons of profit and looting to go around for the cronies.

Mission Accomplished! What did YOU think the mission was?
 9 years ago '06        #18
loudobbs 
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 CadillacVyse said:
we did it when Reagan raised the debt...why not now?
The amount you can purchase with a single dollar since then has changed as well.
Its devaluation
 9 years ago '06        #19
WillScrillz5000 5 heat pts
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what the guy up top said..."you can't repay debt with debt." and to the other one, "the intrest alone is a problem..."

This is true, and is funny that people continue to think it is ok. Wake up, because spending what we don't have is one reason we are in this s**t. common sense.
 9 years ago '09        #20
DJ Geezy 11 heat pts11
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 DubA169 said:
my short answer to you is no

really... you are reaching hard. The f**k are you smoking lol? you think there is some connected stream of consciousness and everyone came up with that reason to vote for Obama?

"ohhh yeah well bush f**ked up so bad that if we vote for a black guy then we can just blame it on him when he f**ks up!"

The American government has never f**ked over it's own people?...they don't have the power to ultimately select whoever they want to be president?...It wouldn't be fitting for them knowing the downfall of our economy was in our future to put a black president in office to take all the heat? You're crazy if you think the government isn't capable of it...
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