President-Elect Obama Weekly Address – 11/21/08

November 24, 2008 by
Filed under: Blog Entries, Obama, Personal Finance, Politics 

President-elect Barack Obama announces he has directed his economic team to assemble an Economic Recovery Plan that will save or create 2.5 million more jobs by January of 2011. For more information, visit http://www.change.gov.

 

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3 Comments on President-Elect Obama Weekly Address – 11/21/08

  1. SplendidMarbles on Mon, 24th Nov 2008 5:51 pm

    2. I really do wish him the best. But the news just keeps getting scarier by the day. Now it’s Citigroup with another $20 billion from TARP funds and a U.S. government guarantee of $300 billion on their crappy assets – plus they just gave out 50,000 pink slips. SplendidMarbles

  2. theo.johnson on Mon, 24th Nov 2008 6:05 pm

    3. I know. I watched his address today as he named his team. Some were saying we need to change the Constitution to get him in early because of what’s happening. I hope Obama and Bush can come up with something to at least get the economy moving forward again.

    I don’t know what to think of the bailouts. Someone will have to pay for it and while taxing the rich may be his answer for now, I wonder whether it will be enough. At some time we all will have to pay for it. Obama has a tough job ahead of him. I like the way he’s showing leadership and getting everyone involved. It’ll be interesting to see what kind of plan his economic team comes up with.

  3. Joel on Tue, 25th Nov 2008 12:20 am

    4. Right now, it’s either bailout or risk the worst. The dominoe effects of what could happen if the Big 3 and other financial institutions go under could be disastrous. But I feel like Barry is going to take care of business and provide some leadership through this mess.

    To me, this whole fiasco is evident that unfettered capitalism is not perfect. Every so often, the feds have to step in and make some corrective measures–the Great Depression, periodic recessions, and now this. Those that say, “let the markets self-correct” are usually those that won’t feel the immediate effects of a severe downturn. I was watching Ben Stein and Neil Cavuto spar over this on Fox Noise. Stein feels more needs to be done while Cavuto is ready for all bailouts to cease. I doubt that Cavuto will be hurt severely if several industries go under. He’ll still have a gig and will probably be able to fall back on whatever he has stashed away from his big paychecks.

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