With the economy still firmly in the grip of a tenacious recession, President Obama is urging Americans to have patience and give his economic recovery plan time to work.
Restating themes he laid out in his weekly radio and Internet address, Obama said in an op-ed posted early Sunday on The Washington Post’s Web site that his $787 billion stimulus program was not expected to return the economy to full health, but to provide a boost that would stop the free fall.
“So far, it has done that,” the president wrote. “It was, from the start, a two-year program, and it will steadily save and create jobs as it ramps up over this summer and fall.”
He said his stimulus plan must be given time to work and appealed to Americans, who are increasingly uneasy with rising unemployment and ballooning budget deficits, to let his plan “work the way it’s supposed to, with the understanding that in any recession, unemployment tends to recover more slowly than other measures of economic activity.”
[More]
Updates:
12:48 pm EDT, July 12th, 2009 — Reich: When Will The Recovery Begin? Never.
12:56 pm EDT, July 12th, 2009 — Hennessey: Responding to the President’s op-ed
Looks like the US is about to enter a series of 5 year plans if Obama has his way.
He’s beginning to sound a lot like Arper.
Hennessey seems right on the mark. Darn good article. Lots of meat for the MSM if they were so inclinded.
You mean you can’t unwind 10+ years of fraudulent gains in a few months? Who knew? Interesting to note that the sinking economy has unwound the gains made from both the housing bubble and the dot com bubble. There’s a chance we are going to end up exactly where we should be in terms of real value.
Obama has no intention of ‘recovering’ the economy, he wants to change it into an economy fully controlled by government, which is fine for elites like him and his offspring, but locking the economy up will stop people with ideas who can make it on their own in favour of supplicants of the elite.
It will never recover if saddled with a known to fail and costly health care plan, and any carbon tax/cap ‘n’ trade carbon market, a solution looking for a problem. Either or both of these programs will crush any recovery and both will probably destroy the North American economy for at least a generation or more.
The democrats are in charge – ‘The sky is falling, the sky is falling’ – Quick, make a run for Canada, a truely conservative country.