http://www.jedreport.com/2008/12/obama-economy-needs-large-stim.htmlOptimism
From all the various headlines I'm seeing around the internetz, you'd think that President-elect Obama is all doom and gloom about the economy.
To be sure, on Meet the Press he did warn of further pain, but that was only part of his message. The other part was about the way forward, and while he acknowledged the tough situation we are in, he also was clear about the path we should take. Here's one such example:
One last point I want to make on this is that we are inheriting an enormous budget deficit. You know, some estimates over a trillion dollars. That's before we do anything. And so we understand that we've got to provide a, a, a blood infusion into the patient right now to make sure that the patient is stabilized, and, and that means that we, we can't worry short term about the deficit. We've got to make sure that the economic stimulus plan is large enough to get the economy moving.
Yesterday, Obama pledged his commitment to the biggest investment in our nation's infrastructure since the 1950s. And during today's press conference, he again repeated his view that things could get worse in the next few months, but more importantly, he expressed his optimism that his plan for a massive public works program would work, saying he was "absolutely confident" that it would get the economy back on track.
So although the headlines are accurate as far as they go, they don't tell the whole story, and they don't -- at least in my opinion -- tell the most important story, which is that we're going to turn things around.