POLITICAL observations & opinions

* Obama’s complicated truth versus Boehner’s simple lies

Posted by Lew Weinstein on September 9, 2010

From NBC’s Athena Jones …

  • the White House has struggled to convince the American public that it has put the economy back on the right track after a punishing recession.
  • President Obama spent 45 minutes making that argument … accompanied by background briefings, fact sheets, and conference calls.

“With the nation losing nearly 800,000 jobs the month I was sworn into office, my most urgent task was to stop a financial meltdown and prevent this recession from becoming a second depression. We’ve done that.”

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Here are the facts … The nonpartisan Congressional Budget Office recently estimated that the stimulus …

raised GDP between 1.7% and 4.5% in the second quarter of 2010;
lowered the unemployment rate between 0.7 and 1.8 percentage points;
increased employment between 1.4 million and 3.3 million.

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  • The president has consistently argued a GOP takeover of Congress would mean a return to the same agenda that brought the economy to the edge of the abyss, like policies that favor corporations and the rich, while gutting regulations and consumer protections.
  • Obama said Congress should
    • permanently extend the Bush-era tax cuts for middle class families
    • while allowing those for individuals making over $200,000 a year (and households making more than $250,000 a year) to expire
    • the country cannot afford tax cuts for the wealthy.

“the Republicans would have us borrow $700 billion over the next 10 years to give a tax cut of about $100,000 to folks who are already millionaires.”

Read the entire article at … http://firstread.msnbc.msn.com/_news/2010/09/08/5071177-obama-discusses-economy-touts-business-tax-cuts

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