we begin this year and this administration in the midst of an unprecedented crisis that calls for unprecedented action. one of the things president obama had to do right out of the gate was get the economy up and running. so the stimulus package became the golden bow of that. he had to get that through congress. it s a plan that will save or create 3 million to 4 million jobs over the next few years. we would lose 800,000 jobs in that month that we took office. with a one in three chance that we d have a second great depression. the recovery act, if we didn t have a recovery act, we wouldn t have a recovery. it s as simple as that. i do hope that we can all put politics aside and do the american people s business. we had a path forward. we didn t know how uncooperative the republicans were going to be. coming up, the fight president obama faced in his first 100 days that would set
continue the fed s stimless campai stimulus campaign this hour we learned that david vitter plans to vote no on her nomination. i guess we should glad he wasn t in a massage parlor when he issued that statement. how hard should this fight be? it shouldn t be as hard as the other fights. in today s senate, you expect a fight getting through the pledge of aallegiance and the morning prayer. the policies that this administration and for that matter the previous administration have been following in terms of monetary stimulus to the economy. i suppose republicans would prefer the european model just reserved a model of gdp growth of 0.1% is that a preference? actually, they would have opposed in the first case all of the tarp and the bailouts that we may well have been in the second great depression had we followed that route. janet yellen is in pretty good
makes the stimulus okay. not just of his first term, i mean, that s the great democratic achievement of the last generation. yeah, absolutely. so he s got that now, right? and he s now had his vision of having saved the country from the second great depression, ratifying. now he turns to the second term, and he has this opportunity to deal with fiscal cliff. it s a huge problem. if he fails, it could destroy his second term. but if he achieves it and this is what you see in john boehner, you know, everything that boehner has been doing so far since the election is signaling, you know, a willingness to work. he s saying i ll accept new revenue. you know, i don t want to see tax rates go up, but we ll accept new revenue. that was not the republican position 18 months ago. the president now, if he can get a deal done, which on boehner who seems very open at this moment, very conciliatory to getting a deal done, much more so than mitch mcconnell, if he can get a deal done in the firs
despite critics at the time, that rescue of the american auto industry worked like gang busters. there was the tripling in size of the service programs and a fundamental reform of this country s broken but fixed student loan system. it was the small matter of pulling the country back from the second great depression. less than a month in office shs and the president made history with a simple stroke of the pen. there you go. it s done. signing into law america s largest economic recovery package ever. the stimulus bill signed into law for the record was the single-largest tax cut ever, largest investment in clean energy, education investment, and largest in our nation s infrastructure for roads and bridges since the eisenhower administration. and things were just getting started. it s as close to universal health care as america will
fundamental reform of this country s broken but fixed student loan system. it was the small matter of pulling the country back from the second great depression. less than a month in office shs and the president made history with a simple stroke of the pen. there you go. it s done. signing into law america s largest economic recovery package ever. the stimulus bill signed into law for the record was the single-largest tax cut ever, largest investment in clean energy, education investment, and largest in our nation s infrastructure for roads and bridges since the eisenhower administration. and things were just getting started. it s as close to universal health care as america will likely ever come. and it will improve the health care of millions of americans in size and scope it s being compared to medicare and social security and tomorrow health care reform will be signed into law by the president.