Obama building a monster new ‘New Deal’


“I want YOU to become a slave to Big Government.”

Barack Obama’s two-year stimulus plan aims to create or protect 2.5 million jobs.

ABC Australia | Nov 24, 2008

By Mark Simkin

As US president-elect Barack Obama prepares to unveil his economic team, it is becoming clear that their economic stimulus plan will be bigger than anything he promised on the campaign trail.

His team will be responsible for pulling the world’s biggest economy out of its tailspin.

And they will certainly have a lot of money to play with; the president-elect wants Congress to pass a massive economic stimulus package.

It has been called the new “new deal” – a reference to Franklin D Roosevelt’s massive stimulus plan during the Great Depression.

Mr Obama’s version is an attempt to avoid a depression and it is much bigger and costlier than anything the Democrat promised previously.

“We’ll put people back to work rebuilding our crumbling roads and bridges, modernising schools that are failing our children and building wind farms and solar panels, fuel efficient cars and the alternative energy technologies that could free us from our dependence on foreign oil and keep our economy competitive in the years ahead,” he said.

Mr Obama says the two-year stimulus plan aims to create or protect 2.5 million jobs.

“January 20th is our chance to begin anew with a new direction, new ideas and new reforms that will create jobs and fuel long term economic growth,” he said.

What’s the price tag? According to one senior Democrat, Chuck Schumer, the stimulus package could end up costing as much as the Bush administration’s massive bank bailout.

“I believe we need a pretty big package here,” he said.

“From my view, it has to be between $US500 billion and $US700 billion and that is because our economy is in serious, serious trouble.

“We are on the edge of deflation. Once you get into deflation, you almost never get out.”

Chuck Schumer and other Congressional Democrats are already working with transition officials.

One of Mr Obama’s top advisers, David Axelrod, wants them to get a bill through Congress before the president-elect takes office.

“We don’t have time to waste here,” he said.

“The projections are that things may get worse before they get better and we want to hit the ground running on January 20th.”

Tomorrow, Mr Obama will unveil the economic team that will implement any stimulus plan.

A former treasury secretary, Larry Summers, will be the White House economic adviser while the New York Federal Reserve’s Timothy Geithner will become the new Treasury Secretary.

Rumours about the appointment sent stocks soaring at the end of last week and even Republicans such as Mitch Romney are applauding.

“Timothy Geithner and Larry Summers I know quite well and frankly I am encouraged by their participation in the new economic team. I think a good team is being assembled,” said Mr Romney.

Some Republicans could be less enthusiastic about Barack Obama’s likely choice for Secretary of State: Hillary Clinton.

Even some Democrats could be disappointed. The former First Lady repeatedly criticised her rival’s grasp of foreign policy during the primaries, but Mr Axelrod defends the pick.

“Hillary Clinton is a demonstrably able, tough, brilliant person,” he said.

“The one thing about Barack Obama is that he invites strong personalities around him. He enjoys that input, that give and take.”

Mr Obama will probably wait at least a week before officially unveiling his diplomatic and national security teams. In these uncertain times, the economy comes first.

5 responses to “Obama building a monster new ‘New Deal’

  1. Is it just me, or has Obama’s appearance drastically changed since the election merely a few weeks ago?

  2. His appearance will change drastically and many of the useful idiots who voted for him will hate him in a few years same as the useful idiots who voted for Bush finally got sick of him.

  3. I think it will flip against him in a few months. And all the people trying to mostly but not quite hide their superior smirks patting themselves on the backs at how ‘reasonable” they are–will be howling different tune.

  4. We live in a totally controlled society, so people just do not have any rational thoughts of their own for the most part. They are programmed to believe a lot of lies, almost nothing but lies in fact.

    A society built on lies is one that is enslaved and it will only become more hellish. Of course, for those whose conditioning is absolute and total, this hell will appear as a paradise, as Hitler once proclaimed.

    The people who suffer the most are those who still have their minds intact, who can actually see what is going on. Due to their sensitivity, they feel the pain of this situation all too intensely, but they must endure it to pass their free-thinking ways to the next generation and the next until hopefully someday the world will live in truth and freedom.

  5. Uncle of friend of mine was making sweeping post Thanksgiving lunch comments that elites have it all planned out, and that it’s all decided and done.

    I said no it’s not.

    He said yes it is.

    I said no it’s not.

    At this point he was getting surprized I was still continuing, and said yes it is.

    I said no it’s not.

    Ok maybe it got silly–but I kept countering what he said and it went a bit on since neither one of us was going to stop.

    And the setting was in the gift shop of newly opened *cough* “Natural History and Creationism Museum” behind the Inn we all had eaten at. A different story in itself–ha.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s