Live Blog from the Anchor Desk 1/27/09
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Obama promised in his campaign that he would work from the bottom up. Unemployment extensions are very important right now and fundings for those 2.5 million (?) people who lost their jobs last year. Many have families to feed.
Anderson, you are on point. I believe the republicans are looking to 2010 and not willing to bend for the good of the country.
Describing the differences in the capitol hill posturing is more ideology than philosophy.
Didn't we try the strategy of 'give me a check and trust me' last time. It didn't work, why will this be different?
Your analysis' analysis of what is stimulative is WRONG...paying more unemployment benefits, giving people more food stamps, and otherwise putting more money in the hands of the poorer 1/3 of Americans WILL cause more spending and have the hoped for multiplier effect. Tax breaks to lower income people will also. Higher income people, on average, will save a portion of what tax breaks they get and this will not be as stimulative.
Mike, are you serious? 25% of the stimulus would go to pork??? That's a far cry from the feeling I had regarding the new stimulus package, which was "no pork whatsoever". Maybe I misunderstood the "No Earmarks" stance?
At the end of the day, Obama will prove ineffectual – tone or no tone change. Wait and see.
The tax payers are always suffering beacuase of corperate greed
i hope Obama can bring this to light it's been a long 8 years
There just is not enough going on in the stimulus package to actually help the working class who are struggling here!
It sounds like more help for welfare, food stamps and unemployed people that is one of the biggest problems this country has today!
Hello Anderson,
I can't belive the woman who had 8 babies wow! it's a bit much too have at once! I hope they're rich ......LOL
b.o. stimulus plan doesnt seem to help working people – what about us- he said he would listen- people but he's not listening – if he really want help- work on interest on credit cards-worked shipped out.
@ xtina: I read on Bloomberg today that 30 million people are on welfare and food stamps.
I’m a twin and my mother was in labor for an additional 53 minutes after giving birth to my brother before she had me. Giving birth to 8 infants must have been a long, and grueling event.
I am certain that she had a C-section.
Good Evening Anderson and Bloggers
I actually feel pretty secure with Obama in office. I think we are seeing action and I really believe that if he cannot get this show on the road, nobody can. I don't expect miracles, but I do really believe we will see progress.
One part of the stimulus should be for the tax code to be fair. All tax payers should pay social security taxes on 100% of their income and not have a cap at $100,000 or whatever the amount is. Fair is fair..pay social security on all of your income.
How can anyone with a brain say that giving extra money to someone on unemployment not be stimulus? Every dime will go for food or essentials that means local spending. Get real and stop hammering the folks that lost their jobs.
That stimulus plan better include some real jobs, not just temporary ones designed to make it look like the economy is recovering when it really isn't.
David Gergen is correct. Finally we have a Presidnet who is willing to get things done. Frankly my system is in shock, but in a good way. I truly believe this man can get things done. He is intelligent and brave and it shows. Go President Obama!
Brandi, it's not going to help me either, but it's going to help those who need the assistance, which is the point.
"rikki" has a great point. last year's "stimulus" did not work !
If they don't get on board this stimulas plan they can hang being re-elected i betcha....talk about political suicide.
@Adeline: I know what you mean. I'm beginning to recognize many of the names that appear here each night. Once I discovered that AC360 had a live blog and awesome website, I was hooked.
On the Obama plan, I'm curious as to how effective this stimulus package will prove to be.
I understand the idea of doing something now and fast, I understand that this is not the final step in the economic recovery. What is the next step after this package and do we have money enough to take another step?
i voted for President Obama. i hope that he knows what he is doing. i mean i am disabled and his bill has some help for me, but, what about the people who are losing their house. they need help too and i have not seen one thing go to them. people please pray for our president!!!
Eight kids?! Don't we have an overpopulation problem?
Truth be told, all I can think of is Apu in "The Simpsons".
hey EJ, how are you ? I see you here every night. lol. another 360 addict.
Hi Adeline. Yes I admit to being a 360 addict.
President Obama froze his staff's salaries. Has Congress frozen all federal salaries (executive, judicial and their own) yet? All federally funded grant salaries should be frozen too.
jobs, jobs, jobs --simple economic theory
no tax credit ; that's what is needed.
"hey EJ, how are you ? I see you here every night. lol. another 360 addict."
I cancelled (another) date tonight, with free dinner included, just to participate on this blog and watch 360! My friends all think I'm possessed or just plain crazy. It's kinda like an ancillary family of sorts (except everybody uses their brains all the time)!
Hi Anderson, everyone blogging. Hi Megan, Happy Tuesday Night to you too. I hope Obama can get strong bipartisan support too, hopefully House Republicans will come to the understanding that Obama's plan has tax cuts are big enough to stimulate the economy. 500 for individuals, 1000 for families is good tax cut.
Anyway a bit of legislative back and forth for now.
James: I am a huge President Obama supporter right back to the 2004 convention but I believe that the Democrats are partially to blame here. They added 50 billion onto the Pres. Obama's package. I wish I knew which part of the bill accounts for that additional 50 billion.
Both sides are playing partisan politics here and unfortunately the president is caught in the middle.
Did we forget "...government of the people, by the people, for the people shall not perish from the earth"!!!
Lets keep helping the banks though and see where that goes?!!
I just heard your and Ari's comments on food stamps not being stimulative. However, wouldn't an increase in food stamps increase spending in food/produce which is mostly produced by American companies?
I'd very much like to hear your and/or Ari's comments on this.
Thanks.
The stimulus package is actually going to make our situation much worse. Throwing $825 billion on top of this problem is no solution at all. The government should simply cut taxes and their own spending.
This is my first AC360 live Blogging adventure ,....... so far, so great.
Anderson,
Hi! I'm glad it wasn't snowing in D.C. a week ago.
I hope Obama's economic plan goes forward–productive action is obviously needed.
the extension of Cobra eligibility is a complete sham...honestly how many people can afford Cobra after they are laid off...depending on the state you live in, the fees can eat up as much as 70% of unemployment benefits..new flash for all of the law makers, its not affordable for most working families which means an extension is really no help at all...but it does look good on paper
anderson or erica.....do you think the stimulus bill will pass despite significant republican disapproval? and why is the idea of change and bipartisanship that was so alive a week ago seem to have been forgotten by many, especially the republicans in congress
I agree with you Glen up north!!!! it will be fun to watch floor crew! 🙂
food stamps won't help the economy. This isn't "change"
@EJ- yeah i know. i freaked out when i heard. I couldnt cope with 8 all at the same time, must b scary.
I can't believe the republicans were meeting behind closed doors discussing not to agree with the stimulus plan before hearing the president out.
I wish, a law would pass that prevents the congress and senate on both sides of the aisle from getting paid until they can come up with a stimulus plan that will be beneficial to the majority. Currently, they have nothing to lose, so playing politics and games as we suffer is more of the same old crap we've dealt with for 8 yrs.
hi all. the economic news is scary to watch. i hope there is close oversight on whatever stimulus plan gets passed. lets hope the money goes to benefit all of us this time.
Not sure I think giving out more food stamps is going to help anything?
For one thing most of the people on welfare and food stamps were not the ones who were working and lost their jobs most of them just were not working!
I think the stimulus plan needs some serious revamping and I believe most people are concerned with the fact that all these tax cuts will be going to people who pay little or no taxes?
Can anyone verify that point for me?
It sounds like to me that the average person will not get much of a stimulus package.
I wish Obama the best and I have been a huge supporter, but this "stimulus" package sounds like a big mistake. Sure, some of it COULD work, but from my understanding of it , it doesn't help anyone who is self-employed or a small business owner. We don't receive unemployment benefits, and sorry, but $500 is not going to change our situation.
Wait...did I hear it right? Could it be? Will there be Blagojevich, Palin, AND Haggard on AC360 tonight? Don't tease me CNN – you're starting to make me think it's Friday.
I'm a twin and my mother was in labor for an additional 53 minutes after giving birth to my brother before she had me. Giving birth to 8 infants must have been a long, and grueling event. I hope that mother is getting some rest while she visits with her new babies. She'll be needing all the energy she can muster in the coming years!
Hello Anderson
It's refreshing to see a President follow thru on his campaign promises.
how about giving the bail out money directly to the American taxpayrs?
Good evening Mr. Cooper and the rest of 360. Snow is on its way here everyone be careful if you travel.
I'm not surprised about all this, I know our government hasn't worked in years to do anything for the American people. They are out for themselves and whoever backs their campaigns. I was always skeptical that President Obama could do anything he said he would do once he got intangled in the do nothing bogged down web of Wash DC. But I'll try and be hopeful nonetheless.