Google+

Pres. Obama’s Weekly Address 1/31/09

Saturday, January 31st, 2009 at 4:45 am
Moving Forward

In the weekly address, President Barack Obama addressed the latest economic news and urged the passing of an America Recovery and Reinvestment Plan.

He also announced that Treasury Secretary Timothy Geithner is preparing a new strategy for reviving our financial system — which will not only ensure that CEOs aren’t abusing taxpayer dollars, but also get credit flowing and lower mortgage costs.

WATCH THE VIDEO!

ADDRESS OF THE PRESIDENT
TO THE NATION
January 31, 2009

This morning I’d like to talk about some good news and some bad news as we confront our economic crisis.

The bad news is well known to Americans across our country as we continue to struggle through unprecedented economic turmoil. Yesterday we learned that our economy shrank by nearly 4 percent from October through December. That decline was the largest in over a quarter century, and it underscores the seriousness of the economic crisis that my administration found when we took office.

Already the slowdown has cost us tens of thousands of jobs in January alone. And the picture is likely to get worse before it gets better.

Make no mistake, these are not just numbers. Behind every statistic there’s a story. Many Americans have seen their lives turned upside down. Families have been forced to make painful choices. Parents are struggling to pay the bills. Patients can’t afford care. Students can’t keep pace with tuition. And workers don’t know whether their retirement will be dignified and secure.

The good news is that we are moving forward with a sense of urgency equal to the challenge. This week the House passed the American Recovery and Reinvestment Plan, which will save or create more than 3 million jobs over the next few years. It puts a tax cut into the pockets of working families, and places a down payment on America’s future by investing in energy independence and education, affordable health care, and American infrastructure.

Now this recovery plan moves to the Senate. I will continue working with both parties so that the strongest possible bill gets to my desk. With the stakes so high we simply cannot afford the same old gridlock and partisan posturing in Washington. It’s time to move in a new direction.

Americans know that our economic recovery will take years — not months. But they will have little patience if we allow politics to get in the way of action, and our economy continues to slide. That’s why I am calling on the Senate to pass this plan, so that we can put people back to work and begin the long, hard work of lifting our economy out of this crisis. No one bill, no matter how comprehensive, can cure what ails our economy. So just as we jumpstart job creation, we must also ensure that markets are stable, credit is flowing, and families can stay in their homes.

Last year Congress passed a plan to rescue the financial system. While the package helped avoid a financial collapse, many are frustrated by the results — and rightfully so. Too often taxpayer dollars have been spent without transparency or accountability. Banks have been extended a hand, but homeowners, students, and small businesses that need loans have been left to fend on their own.

And adding to this outrage, we learned this week that even as they petitioned for taxpayer assistance, Wall Street firms shamefully paid out nearly $20 billion in bonuses for 2008. While I’m committed to doing what it takes to maintain the flow of credit, the American people will not excuse or tolerate such arrogance and greed. The road to recovery demands that we all act responsibly, from Main Street to Washington to Wall Street.

Soon my Treasury Secretary, Tim Geithner, will announce a new strategy for reviving our financial system that gets credit flowing to businesses and families. We’ll help lower mortgage costs and extend loans to small businesses so they can create jobs. We’ll ensure that CEOs are not draining funds that should be advancing our recovery. And we will insist on unprecedented transparency, rigorous oversight, and clear accountability — so taxpayers know how their money is being spent and whether it is achieving results.

Rarely in history has our country faced economic problems as devastating as this crisis. But the strength of the American people compels us to come together. The road ahead will be long, but I promise you that every day that I go to work in the Oval Office I carry with me your stories, and my administration is dedicated to alleviating your struggles and advancing your dreams. You are calling for action. Now is the time for those of us in Washington to live up to our responsibilities.

-The White House

Entertainment

Mark Wahlberg Vehicle Revisits BP Oil Spill

  Deepwater Horizon Blu-Ray Review by Kam Williams Mark Wahlberg Vehicle Revisits BP Oil Spill On April 20, 2010, the Deepwater Horizon drilling rig, located 41 miles off the coast of Louisiana, exploded when high-pressure methane gas blew out the drill pipe. 11 members of the crew perished in the ensuing fiery inferno which engulfed the platform. The accident also caused the worst oil spill in U.S. history, with over 200 million … [Read More its Good for You.....]

Books

Concerned Father Creates Children’s Book Series To Help Make Learning About Valuable Black History Information Fun Again

  Concerned Father Creates Children's Book Series To Help Make Learning About Valuable Black History Information Fun Again   Orlando, FL (January 16, 2017) – EOTO Books & Publishing announced today the immediate release of “The Christopher OluFela Series of Books for Kids” written by father and creative children’s picture book author Lee Chavous. The books take a unique approach to inform young readers of a rich African American … [Read More its Good for You...]

Art

The Day After the Day Of

  The Day After the Day Of by Paul Ilechko   The sky sheds its tears. This morning is the morning of the day after. The day of mourning, the day after the day of.  I beseech the sky to shed tears in order to wash away the tears on my face.   This is the first day of the time after. This is the beginning of a new time, the days of pain, the days of sorrow. We are in mourning. The sky looks down and sheds its tears for … [Read More its Good For You...]

Real Estate

History Being Sold to the Highest Bidder

  History Being Sold to the Highest Bidder by Amy Lignor   For the longest time, scientists and archaeologists have been confused and bemused by various discoveries they’ve unearthed that offer little or no explanation as to the who, what, and why of the people who created these things or left them behind. Even now, in 2017, there are discoveries being studied; stories that were once legends now have actual bits of proof being found that … [Read More its Good for You.....]

Lifestyle

Groundswell for Chazelle!

  Damien Chazelle The “La La Land” Interview with Kam Williams Groundswell for Chazelle! Damien Chazelle wrote and directed the Academy Award-winning Whiplash which landed five Oscar nominations, including Best Picture and Best Adapted Screenplay for Chazelle. The movie won a trio of Oscars in the Film Editing, Sound Mixing and Supporting Actor (J.K. Simmons) categories. In 2013, his short film of the same name won the Short Film … [Read More its Good for You...]

Outdoors

Carolina Skiff at Miami’s Favorite Boat Show

  Carolina Skiff at Miami's Favorite Boat Show By Craig Lamb You might say “new” is a reoccurring theme of Miami’s favorite boat show coming up soon. A new location with hundreds of new boats, including never-before-seen models being debuted by Carolina Skiff, is a great way to kick off the season. Few boat shows offer buyers the chance to see new boats where they ultimately belong—floating on the water in a real time setting. You can … [Read More its Good for You...]

Sports

Can Troy Aikman Win MVP?

  Can Troy Aikman Win MVP? by Amy Lignor   What a strange title for an article, aye? Of course the ‘old man’ of the Dallas Cowboys can’t win MVP. Troy Aikman was an elite QB, with three Super Bowl rings to prove that fact. However, Aikman hasn’t actually suited-up since leaving behind his Cowboys uniform in 2001. The number one overall draft pick in 1989, Aikman was the MVP of Super Bowl XXVII, and was elected to the Pro Football … [Read More its Good for You...]

Business

Spotlight on Africa

  Spotlight on Africa by Amy Lignor   As the year winds down and comes to a close, it is Africa that is receiving some headlines that call for many changes and improvements to be made in the coming years. It was Ambassador Amina Mohamed (Nairobi, Kenya) that spoke recently about the African Union Commission (AUC) and how the group must provide leadership in the coming years. After all, the nation of Africa is, in truth, the cradle … [Read More its Good for You...]

Travel

The Grandest New Year’s Celebrations Around the World

    The Grandest New Year’s Celebrations Around the World by Amy Lignor   Oh, yes…there are many, many places to travel in order to ring in that New Year in style. Some people have already stated that they see 2017 becoming one of the ‘best of the best’ years the world has ever seen – from technology to business to education to even “going greener” – heck, green has even been chosen as the top color of 2017. But where should you … [Read More its Good for You...]

Green Living

2017 Will Be Green!

    2017 Will Be Green! by Amy Lignor   This statement is not a “hopeful” imagination talking; it is actually quite true. Very recently the Pantone Color Institute declared that green will most definitely be THE color for 2017. This is a company that calls themselves the “global color authority,” and states that everything from high fashion to trends will be on the green path throughout next year. So…when we look at a “green” … [Read More its Good for You...]