Obama is giving a press conference right now, mainly about the stimulus package. Here are the highlights, none of which are earth-shattering:
- With the private sector in shambles, the Federal government is the only one with enough juice left to fix anything.
- We need to create more jobs.
- Need to get banks to start making loans again.
- TARP failed due to lack of oversight.
- Consumer overspending didn’t get us into this mess, banks betting thirty dollars with one dollar did.
- Phrase of the night: “Ginned up.” “this notion that somehow I came in here just ginned up to spend $800 billion…that wasn’t how I envisioned my presidency beginning.”
Here’s the full transcript.