American Recovery and Reinvestment

January 8, 2009 at 1:11 pm | Posted in Economy, Obama! | Leave a comment
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“It is true that we cannot depend on government alone to create jobs or long-term growth, but at this particular moment, only government can provide the short-term boost necessary to lift us from a recession this deep and severe. Only government can break the vicious cycles that are crippling our economy — where a lack of spending leads to lost jobs which leads to even less spending; where an inability to lend and borrow stops growth and leads to even less credit.

“That is why we need to act boldly and act now to reverse these cycles. That’s why we need to put money in the pockets of the American people, create new jobs, and invest in our future. That’s why we need to re-start the flow of credit and restore the rules of the road that will ensure a crisis like this never happens again.”

Steve Benen points out: “For all of the talk in recent weeks about the president-elect’s ideology and partisan fealty, this speech was a reminder of the importance of government activism in a time of overwhelming challenges. And that, at its core, is an inescapably liberal message.”

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