Notes On Obama's Press Conference

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.

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