Thursday, February 05, 2009

President Obama Tells Which Way Is Up

This is a clip of his address to the Democrats at their retreat.

The entire speech is HERE AT C-SPAN. (couldn't find an embed code, so I'm sending you to the site.)

1 comment:

The Angry Independent said...

That's Obama at his best.

Now he needs to hit the road with his message.

I also wonder where the Republicans were when Bush was racking up huge deficits. Now all of a sudden we have to reign in spending?

The unnecessary, unjust war in Iraq is the biggest spending bill of all... They didn't have a problem leading us down that rat hole.

Now all of a sudden when it comes to investing money in this Country...there's a problem.

Typical Republican insanity.

While I agree that some of what is in the bill is pork.... the overall effort is positive.

The reality is... the Republicans don't want to see a bill passed at all. That's how sick they are.

Hopefully this stimulus will work...and when/if the economy turns around... Obama should come up with a plan to start paying down the debt. Right now... the U.S. will have trouble just paying the interest. It will take decades to pay it down to a healthy level. But Obama should start the process... $100 billion or more a year would be good... but where will he find the money? He may have to raise taxes.... Just like Clinton had to do right after taking office. Of course he can't do it now...during a downturn...but once the economy improves...a modest tax increase has to be an option.

If we don't start paying it down soon... there is the risk of the dollar falling... especially if foreign countries stop buying U.S. debt. China already wants to cut back on U.S. debt.