Wake Up America has a thorough analysis:
Here is a PDF of a statement, signed by hundreds of economists including Nobel laureates and other prominent scholars, calling Obama out on his assertion that economists agree with this stimulus package. (H/T MM)
Video of Obama's first press conference below, courtesy of LA Times, Top of the Ticket blog.
Text of speech:
Good evening. Before I take your questions tonight, I’d like to speak briefly about the state of our economy and why I believe we need to put this recovery plan in motion as soon as possible. I took a trip to Elkhart, Ind., today. Elkhart is a place that has lost jobs faster than anywhere else in America. In one year, the unemployment rate went from 4.7% to 15.3%.
Companies that have sustained this community for years are shedding jobs at an alarming speed, and the people who’ve lost them have no idea what to do or who to turn to. They can’t pay their bills and they’ve stopped spending money. And because they’ve stopped spending money, more businesses have been forced to lay off more workers. Local TV stations have started running public service announcements that tell people where to find food banks, even as the food banks don’t have enough to meet the demand.
As we speak, similar scenes are playing out in cities and towns across the country. Last Monday, more than 1,000 men and women stood in line for 35 firefighter jobs in Miami. Last month, our economy lost 598,000 jobs, which is nearly the equivalent of losing every single job in the state of Maine....
It is only government that can break the vicious cycle where lost jobs lead to people spending less money which leads to even more layoffs. And breaking that cycle is exactly what the plan....
Despite all of this, the plan is not perfect. No plan is.
I can’t tell you for sure that everything in this plan will work exactly as we hope, but I can tell you with complete confidence that a failure to act will only deepen this crisis as well as the pain felt by millions of Americans.
[Brat comment...blah blah blah. Does anyone else agree that his speeches are designed to put us all to sleep? So we don't notice the "fog of debt" inherent in all his 'stimulus' packages Just sayin'...??? But I digress... Back to WUA]...
Now for some personal observations.
President Obama's LIES:
Obama said "It is only government that can break the vicious cycle."
Wrong, dead wrong, it is the government that caused the economic crisis and the government needs to sit down, shut up, get their hands the hell out of it, as much as possible, and let this run it's course.
Obama is right on one key point, this is a crisis, one we brought on ourselves by borrowing and spending, which means by passing a bill that holds as it's key premise that "spending" will somehow drag us out of this crisis, is not only ignorant, but is an outright lie.
Next lie up to bat is Obama's statement "What it does not contain, however, is a single pet project, and it has been stripped of the projects members of both parties found most objectionable."
This one is a doozy ladies and gentlemen, because as has been pointed out, multiple times, by a variety of people, including AP News, willing to list examples, Obama lied through his teeth:...
This is a must read (probably after you have a few coffees under your belt.) Go read it ALL at Wake Up America here.
Ladies and Gentlemen. Fasten your seat belts. You are in for the ride of your life. The insanity WILL get worse, much worse! Guaranteed.