Obama Says U.S. Still Hurting From Wall Street Crisis of 2008

[bemildred]

President Barack Obama, urging Congress to pass his jobs plan, said the economy is still struggling three years after the collapse of Lehman Brothers Holdings Inc.

In his weekly radio and Internet address today, Obama said his $447 billion jobs package would be fully paid for and he will present his proposals for cutting the nation’s debt to a congressional supercommittee in two days. His approach will follow “some basic principles: making sure we live within our means and asking everyone to pay their fair share,” Obama said.

“But right now, we’ve got to get Congress to pass this jobs bill,” Obama said. “Everything in the American Jobs Act is the kind of idea that’s been supported by Democrats and Republicans before.” He urged listeners to “help make it happen by telling your congressperson to pass this jobs bill right away.”

Since announcing his jobs plan to a joint session of Congress on Sept. 8, Obama has traveled to election battleground states of Ohio, Virginia and North Carolina to recruit support for it, saying it will reduce the nation’s 9.1 percent unemployment rate.

http://www.bloomberg.com/news/2011-09-17/obama-says-u-s-still-hurting-from-wall-street-crisis-of-2008.html

[existentialist]

1. This is, in a sense true, but

What it misses is the underlying reality that the United States and its citizenry have been living and spending beyond our means for 30 years, and that this was hidden by Wall Street manipulations and congressional spending without counterbalancing taxes.

Wall Street, Washington, and the American people are still attempting to avoid this underlying reality.

[Autumn]

2. Yes we know that.

Most of us do live within our means. But then we don't get bonuses by the millions. I understand he doesn't begrudge them their income but "making sure we live within our means and asking everyone to pay their fair share,” after our tax dollars were used for them is BS coming out of his mouth.

[bemildred]

3. I just like it being admitted that the TARP stall did not work. nt

[blkmusclmachine]

4. Who said what?

Anybody still listening?

[Beaverhausen]

5. I finally watched 'Inside Job' last night

Hey Obama, maybe you could have done something about Wall Streets crimes once you got into office instead of enabling them even more.