Obama Stimulus Plan: Economic Team Makes The Case (VIDEO)

This morning, Barack Obama's transition team released an economic evaluation of the president-elect's stimulus plan, making the case for an urgent infusion of public spending to right the economy. Christine Romero, the chair-designate for Obama's National Economic Council, discusses the report in the video below.

Economist and columnist Paul Krugman, who criticized the stimulus last week as insufficiently large, applauded the Obama team for their "clear, honest assessment" of the plan, but remains unconvinced that it can deal with the current crisis:

Here's one way to look at it: [Romer and Bernstein] show the effects of the plan rapidly fading out during 2011. Yet at the end of 2011 the unemployment rate is still 6.3%. Meanwhile, the CBO estimates the natural rate, aka "full employment," at just 4.8%. Why does the plan go away with the job undone?

You can read the full report below (use the 'zoom' or 'full screen' buttons for larger text), or see the pdf version here:

Obama Stimulus Job Impact Report - Free Legal Forms

Comments

[ReasonIsMyReligion]

Without the Obama plan, the economy looks like a C cup. With, an A cup.
Hmmm.

[kellygrrrl]

Anyone else getting a "drag" on this story? I think it's the chart, but it's annoying and makes me nervous

[BabsfromKansas]

What is a "drag" ?

[vjoseph]

I think its the pdf

[kellygrrrl]

new main
http://www.huffingtonpost.com/2009/01/11/obama-team-offers-concess_n_156987.html

[CrapWhisperer]

********** MY ECONOMIC FIX **********

Tax drug's and prostitution and layoff every vice and narc cop!

It's not like making them illegal is working ...

[HMDMSR]

Tax churches as well.

[monicaangela]

Why not, there's no separation between church and state. We all know that.

[RTIII]

At least the ones who violated their obligations to avoid politics, as, for example, LDS with the recent Prop 8 in CA...
.

[streak of rin tin tin]

Count me in.

[NotWaldo]

To all you virgins. Thanks for NOTHING!

(I'm glad I got that off my chest)

[LiseLives]

LOL - ! ....do the "born again" ones count too ?? ; ((

[monicaangela]

How would he know, he still doesn't know how to use virgins yet. Hint: Virgins don't belong on your chest :)

[KO4Pres]

Laura Dern......­..........­....YES, she went there!! :)

[TiffanyHusseinBanned]

I know! Laura Dern accepted the award for Obama tonight.

[iDonkey]

********** MY ECONOMIC FIX **********

let the banks and auto industries F A I L

close the B O R D E R S

S H O O T down any aircraft that tries to leave

********** MY ECONOMIC FIX **********

[NotWaldo]

If love is blind, why is lingerie so popular?

[iDonkey]

bank robbers

heh...

[CrapWhisperer]

Cuz love is always better with cellophane and pasties ...

[Leather-n-Lace]

...leave something to the imagination....

[ErnestineBass]

Leftovers, again? ugh

[BabsfromKansas]

To cover up the bacon grease burns???

[Nochnoi]

Hehehehe....

[Leather-n-Lace]

Thank you Jack Handy!

[ErnestineBass]

Ummm...because lust is 20/20?

[BabsfromKansas]

You on a roll tonight!

[LiseLives]

LOL - !

[dentuso]

(Note to self - proofread comments before posting instead of after. You're having a "ret arded" night.)

[Leather-n-Lace]

LOL!

[ErnestineBass]

I due thqt all teh tim.

[monicaangela]

LOL!!!!!

[Hoisin]

"OBAMA MAKES HIS CASE FOR STIMULUS" Well there you have more biased new headline from the HP. The proper title should be "OBAMA PRESENTS HIS CASE FOR STIMULUS". I dont remember being asked if I thought he made his case, but the lemmings wont mind.

[ObjectiveRealist]

I agree. "... Presents His Stimulus Plan For Comment" would also be more accurate than the headline chosen.

[iDonkey]

Makes His Case

is fine

heh...

[buckygreen]

No one really cares if an i d i o tr0// thinks he made his case or not. I d i o t tr0//s are irrelevant.

[ErnestineBass]

Nothing like a tr0// trying to split a RCH with a dull razor.

[Ant]

New main thread:

http://www.huffingtonpost.com/2009/01/11/obama-team-offers-concess_n_156987.html

[MissTraci]

Globe watchers: let's go to the new thread with me?

[LiseLives]

Yepper !

[InfoWarriorNY]

Obama did not define the “challenges of our time,” but they are relatively easy to perceive — fractional reserve banking, the debt bubble, the credit crunch, and inflation of the money supply, all designed to take down the global economy in dramatic fashion and inflict maximum misery on billions of largely clueless plebs. In response to this manufactured global economic crisis, the international banksters have offered their solution — global government and further centralization of economic power into fewer hands.

It is no mistake the banksters are using the so-called bailout to gobble up smaller banks and pay off their cronies. From the get-go it was designed as a tool to further concentrate power, not buy up bad assets as advertised, that is to say toxic assets created by the scam that is fractional reserve banking.

More so-called bailouts will be imposed, as there are more equity bubbles right around the corner. More misery and “shared sacrifice” will be required in order for the global elite to put the finishing touches on their mega-scam, the most outrageous financial crime in recorded history.

[Leather-n-Lace]

BRuuuuuuuu­uuuuuuuce!­!!!!!!!!!!

[MissTraci]

New CD drops on the 29th and he's doing the half-time show at the Super Bowl.

[Leather-n-Lace]

I've adored him since Nebraska!!!! The man has got some depth and a very nice behind!

[Stud99]

Are they ever going to have someone under 60 at the super bowl again. I loved Janet Jacksons performance.

[MissTraci]

Bruce looks so good.

[KO4Pres]

He looks edible!! :)

[Leather-n-Lace]

YuuMMMY!!

[rubygreen]

Better than ever!!

[BabsfromKansas]

pssst (who is bruce?)

[MissTraci]

Tiff: The Globes are not the same without Jack Nickelson!

[Stud99]

I'm trying to learn, but I thought good liberals didn't watch TV. Creates such a big carbon footprint and all.

[ThunderclapNewman]

That shows how much you have to learn.