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Obama Speech Designed to Win Over Skeptics

 
     

    President-elect Barack Obama may not be the Commander-in-Chief just yet, but he debuted as the nation’s “Salesman-in-Chief” on Thursday, with a speech designed to win support for his economic stimulus plan from many bailout-weary taxpayers and a Congress that has its own ideas for a stimulus package.

    Mr. Obama addressed both groups head-on in his remarks at George Mason University in Fairfax, Va., on Thursday.

    “I understand that some might be skeptical of this plan,” he said to voters. “Our government has already spent a good deal of money, but we haven’t yet seen that translate into more jobs or higher incomes or renewed confidence in our economy.”

    Correct -- by some measures, trillions of dollars in direct spending and in economic and credit market stabilization programs backed by the U.S. Treasury and the Federal Reserve. Yet housing prices keep sliding, stock markets remain down and volatile, and unemployment continues to soar.

    Indeed, while some opinion polls strong public support for a major stimulus plan, other polls suggest political risks for the president-elect in proceeding with more government bailouts and rescues. For example, a FOX News/Opinion Dynamics Poll in December queried voters about government help for struggling auto companies. When asked, “If U.S. automakers go out of business, how much do you think it would hurt your personal financial situation?” 39% responded “a great deal” or “some.” Most other voters responded “not much” or “not at all.”

    And when asked in October to think about a possible $700 billion rescue package, 54% of respondents said they felt their elected officials in Washington “have no idea what they’re doing or how the plan will affect the economy.”

    Mr. Obama’s bigger problem may be in Congress -- not only with Republicans, the “loyal opposition” -- but possibly more with members of his own party. The president-elect’s economic advisors have suggested a stimulus plan should be $675 billion to $775 billion, with about 40% of it going to individual and business tax cuts.

    But after a meeting with Mr. Obama on stimulus efforts this week, Senate Majority Harry Reid (D-Nev.) appeared to lay the groundwork for a push for a larger package by using Mr. Obama’s own words against him: “I have not received, of course, the exact package from the president-elect and his folks, but he has indicated that there's at least 20 economists that he's talked with, and all but one of those believe it should be from $800 billion to $1.2 trillion or $1.3 trillion.”

    And on National Public Radio this morning, Rep. Barney Frank (D-Mass.), chairman of the House Financial Services Committee, said he thought Mr. Obama is proposing too many tax cuts.

    “I have some difference because I think they may be doing too much tax-cutting and not enough direct spending from the standpoint of immediate job creation,” Frank said.

    “I understand that every member of Congress has ideas on how to spend money,” Mr. Obama said in his speech, but “this must be a time when leaders in both parties put the urgent needs of our nation above our own narrow interests.”

    Mr. Obama may find being Commander-in-Chief of the nation’s military forces an easier job -- at least military men and women salute and get right to work when they get orders from the president.