Obama: Stimulus Designed To Work Over Two Years — Not Four Months
In this weekend’s YouTube address, President Obama answered stimulus opponents who say that it has not restored the economy — as well as those who say it didn’t go far enough — by saying that it has saved the economy from greater disaster, and calling for patience:
“But, as I made clear at the time it was passed, the Recovery Act was not designed to work in four months – it was designed to work over two years,” said Obama. “We also knew that it would take some time for the money to get out the door, because we are committed to spending it in a way that is effective and transparent. Crucially, this is a plan that will also accelerate greatly throughout the summer and the fall. We must let it work the way it’s supposed to, with the understanding that in any recession, unemployment tends to recover more slowly than other measures of economic activity.”
Cantor: “This is now President Obama’s Economy”
In this weekend’s Republican address, House Minority Whip Eric Cantor (R-VA) blasted President Obama and Congressional Democrats for producing a stimulus program that he said has failed to create jobs:
“In fact, they said that unemployment would stay under eight percent. Yet just months later, they are telling us to brace for unemployment to climb over ten percent,” said Cantor. “They promised jobs created. Now they scramble to find a way to play games with government numbers by claiming jobs saved. Simply put, this is now President Obama’s economy and the American people are beginning to question whether his policies are working.”
Obama’s Day In Ghana
President Obama spent the day in Ghana. At 5:30 a.m. ET (9:30 a.m. local time), he met with Ghanaian President John Atta Mills, with an expanded meeting at 6:15 a.m. ET. AT 7 a.m. ET, President Obama and First Lady Michelle Obama attended an event on maternal health. At 8:40 a.m. ET, Obama delivered remarks to the Ghanian Parliament. At 10:50 a.m. ET, the Obamas met with Head Chief Osabarima Kwesi Atta II. At 11:15 a.m. ET, the First Family toured the Cape Coast Castle, a former depot of the slave trade, and Obama spoke at 11:45 a.m. ET. At 1:50 p.m. ET, the Obamas will attend a departure ceremony, and 2:45 p.m. ET they will fly back to the United States.
No Biden Events Today
Vice President Biden is spending the weekend in Wilmington, Delaware. He does not have any public events scheduled for today.
Obama To African Countries: Western Aid Must Be Matched By Good Governance
In his speech today to Ghana’s parliament, President Obama called on African leaders to provide better governance, along with aid from the Western governments. “Development depends upon good governance,” said Obama. “That is the ingredient which has been missing in far too many places, for far too long. That is the change that can unlock Africa’s potential. And that is a responsibility that can only be met by Africans.”
Obama Visits Former Slave Trade Depot
Also during his trip to Ghana, President Obama visited a former depot of the transatlantic slave trade, the Cape Coast Castle. Obama said that a lesson can be drawn from it: “As painful as it is, I think that it helps to teach all of us that we have to do what we can to fight against the kinds of evils that sadly still exist in our world, not just on this continent but in every corner of the globe.”
NYT: Path To SCOTUS Is To Speak Capably And Say Little
The New York Times reports that the Sotomayor hearings will likely follow a familiar and time-honored path: The Senators will try to grill the nominee on issues after issue, and the nominee will aim to speak well but say little of actual substance on those controversial matters. “It will be a slightly different cast of characters performing a set piece drama we have seen many times before,” said David J. Garrow, a University of Cambridge historian.
Report: Dem Congress Loses Millions In Ponzi Scheme
Freshman Rep. Alan Grayson (D-FL) has reportedly lost $3 million in a Ponzi scheme, which operated from 2000 to 2005. Grayson will probably still be okay, as his financial disclosure forms during the 2008 campaign reported assets worth more than $25 million.
