Obama Advisor: Stimulus Will Impact the Economy Immediately
EmailABC News’ Tahman Bradley reports: White House senior adviser David Axelrod predicted Sunday that Americans will see early signs that the $787 billion stimulus is improving the economy but cautioned that a complete economic recovery is a ways off. "I think that there will be signs of activity very quickly," Axelrod said of the stimulus legislation, which awaits President Obama’s signature. "All over the country you’re going to see shovels in the ground. You’re going to see construction projects under way. The other thing you’re going to see are people not being laid off – police and firefighters and teachers – because states now are going to have funding to forestall those kinds of things. So I think you’ll see an effect of it, but in terms of the overall economy we’re in the worse recession since World War II and it’s going to take – it took us a long time to get into this mess – and it’s going to take us a while to get out of it." Axelrod, who made his comments on "Fox News Sunday," also predicted that unemployment numbers would begin to stabilize by the end of the year. "It is true that without this program it could be much much worse and so I don’t expect the arrow to bend down by the end of the year, but I do expect that the rise in unemployment to be retarded by the things that we’ve done this week." On other matters, Axelrod hinted that President Obama might soon issue an executive order lifting the ban on embryonic stem cell research put in place by his predecessor, President Bush. "We’re going to be doing something on that soon, I think. The president is considering that right now." In 2001, President Bush limited federal funding for stem cell research to cell lines that already existed because he did not want cells to be created and then destroyed. Federal money cannot be used on stem cell lines created after August 9, 2001. Obama has promised to change the Bush ban. Some scientists see stem cell research as a way to potentially find cures for diseases like diabetes and Parkinson’s. With General Motors and Chrysler set to submit viability plans to the government on Tuesday, Axelrod talked up the importance of the U.S. having a retooled auto industry. "We need a thriving auto industry in this country. There are millions of jobs that rely on it, not just in the auto industry itself, not just at the Big Three, but in all kinds of related spinoff businesses. So we have a vested interest in seeing the auto industry continue. But, as the president has said many times, that’s going to involve significant restructuring of the industry so that they’re looking forward and not back in producing the kinds of cars that people are going to buy in the future." GM is seeking another $4 billion in government aid after borrowing $9.4 billion, and Chrysler wants another $3 billion on top of its $4 billion loan.
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Bookmark this article and hold Axlerod and Obama responsible if the promised improvement does not come (it will not). The Obama administration has produced a stimulus plan the cost $223,000 for each job they claim it will either create or SAVE (they are leaving themselves a lot of weasel room). What that number represents is massive spending on projects that will do nothing to alleviate the unemployment problem. If unemployment is not addressed you will continue to see mortgage failures climb, which is what got us into this economic mess in the first place. This whole plan puts Obama’s ideological desire to grow government above good governance. Our families and especially our children have been sold out.
Posted by: Alicia | February 15, 2009, 12:06 pm 12:06 pm
Bush sold us out during his 8 years of corporate rape and pillage on the American people. People that still cling to the Republican belief are nutty as fruitcakes.
Posted by: Clint | February 15, 2009, 12:19 pm 12:19 pm
axelrod and rove were separated at brith.
both are disgusting nasty peices ofshit.. and so are their canidates
Posted by: verdinet | February 15, 2009, 12:19 pm 12:19 pm
No doubt Axe and the White House hope they shovels in the ground and workers being hired within a month or so.
Republicans and conservatives are just waiting for the first batch of negative economic numbers to be released – regardless of whether or not they are in the proper timeline of the stimulus – to jump on Obama and the Dems, blaming the stimulus for the next Depression.
http://www.political-buzz.com/
Posted by: matt | February 15, 2009, 12:36 pm 12:36 pm
He is right, and the inflation will lag by a year or two.
Posted by: Huh | February 15, 2009, 12:37 pm 12:37 pm
This man is always putting his foot in his mouth. Sombody should tell him to shut up.
Posted by: JULIE | February 15, 2009, 12:45 pm 12:45 pm
We all had a hand in making this country what it is today so you can blame and swear at everyone, blame them to get it off your back but and a big BUT we all had a hand in it.We all tried to make things easier for our childern so we out did our parents put our selves in debt ,Example….Bigger house all new furniture, new cars,all the toys goings all the perks same as the neighbors have,we were taught spend only as what you can afford to pay for each month so if you are hurting and waiting for the people to bail you out of debt—– DO IT YOURSELF live with in your means,,,,I for one am pissed to have to bail the people out that spent above their hears and loosing their houses ……..I paid for mine ,.you pay for yours. It was not an easy task either but we did it…
Posted by: NH voter | February 15, 2009, 12:53 pm 12:53 pm
What is going to happen when all the money is gone. We have spent all the saving. taxes will go up.
Posted by: STARR | February 15, 2009, 1:00 pm 1:00 pm
I’m not sure if the stimulus will help that much in the current economic environment. Economies go through cycles and recession is part of the cycle. I read a good article on the history of cycles at, I think,
http://www.recessioninfocenter.com
Posted by: Jeff | February 15, 2009, 1:05 pm 1:05 pm
Obama’s stealing the census from Congress has suddenly awakened and enraged the Republicans. Maybe this will arouse them as well to challenge Obama for stealing the Presidency itself. They surely know he is not an Article 2 “natural born citizen” (which is more than merely being a 14th Amendment “citizen”) by virtue of either Obama’s birth to a dad of Kenyan/British citizenship or birth in Kenya itself — as manifested by his unwillingness to supply his long form birth certificate now under seal.
Posted by: Ted | February 15, 2009, 3:34 pm 3:34 pm
Ted wrote:”Obama’s stealing the census from Congress has suddenly awakened and enraged the Republicans. Maybe this will arouse them as well to challenge Obama for stealing the Presidency itself”.
Get rid of one village idiot and up pops another one…
Posted by: Josh | February 15, 2009, 4:50 pm 4:50 pm
ok now… i am confused…
Obama keeps saying it will get worse before it gets better and do not expect this stimulus to start working right away.
now this article says it will??
Posted by: jaj | February 15, 2009, 8:10 pm 8:10 pm
just watch.. when 2010 comes, you will see the MSM falsely hyping the employment number. see 3.5 million jobs were saved! it worked! hire democrats!
in september when we were told it was urgent to pass the first stimulus bill i was suspicous of the timing of it all. how fitting that the economy would start to tank just to benefit the democrats.
i have been on several sites and there is one interview given on CNBC (i beleive) by a democrat and he said something about our money market was seriously breached to the tune of 500 billion and the Fed shut it down to prevent more money being lost. some of TARP 1 went into covering up for the loss. does anyone remember reading about this?
remember right after the elections the FBI said that both mcCain and Obama’s computer was hijacked into??
Posted by: jaj | February 15, 2009, 8:17 pm 8:17 pm
I’m pretty negative on the idea that the stimulus bill will show up immediately. When it does, I doubt that there are really going to be millions of jobs. So far we given the Democrats a 1.5 trillion dollar stimulus bill including the interest. Let’s see is there are any signs in July.
Posted by: elainekramer | February 16, 2009, 1:22 am 1:22 am
It absolutely amazes me how some members of the American public seem to be so self-loathing. They are against spending their tax money to help themselves. Maybe they still have their job and are too narrow minded to extend a helping hand to a neighbor who was just as hardworking but was laid off nonetheless. This is akin to the individual who decries using property taxes to fund the schools because they don’t have any children in school. Keep in mind that the job you save by supporting this stimulus package may be your own.
Posted by: James Obama | February 16, 2009, 1:44 am 1:44 am
Bush sold us out during his 8 years of corporate rape and pillage on the American people. People that still cling to the Republican belief are nutty as fruitcakes.
—————————————
Clint,
By all means Clinty lets just keep on doing more of this….maybe TARP II will be 2000 pages long and idiots like Pelosi will give congress 2 hours to prepare to vote on that one!!!!
Fruitcakes?…The only fruitcakes now are those who are stupid enough to think that a bunch of liberal democrats working behind closed doors to create a “stimulus” bill that over 2 reams of paper long would not stuff the life of it with uselss pork.
Hey, HERE is something for you to really think about. After all that blaberring by every democrat in the ocuntry about jobs, jobs, jobs, … Why did they NOT include 9 Billion for continuation ofthe F-22 Raptor???
If we do not continue that project, approx 100,00 American jobs will be lost! Where is the Democratic leadership on this one? Why hasn’t Obama stood up & done something about this ALREADY????
So much for the high moral BS of the liberals!
Posted by: Mike_C | February 16, 2009, 10:35 am 10:35 am