Liveblogging Potus

From the radio. I don't really need to watch, I already know he's handsome.

BIG O
Elkhart, Ind. today---7.7% to 15% unemployment.
Highest in nation.
Last month lost equivalent of every single job in the state of Maine.
---stimulus will "save or create up to 4 mil jobs"
---fed govt only entity left with resources left to help---
break the cycle
----greater unemployment benefits, health ins. coverage, (thought the senators took those out)
tax credits---put more $ in pockets of those most likely to spend it
----tax cut strategy only got us here, didn't help
----not a single earmark---can't say everything will work exactly as hoped but....doing little or nothing...turn crisis into catastrophe
---urges C to resolve differences and pass it
Press ???s

AP---what could make our recession permanent---language too dire?
O---if delay under this severity creates a negative spiral much more diff. to get out of---like Japan's "lost decade"---the 90s, of no growth
"this is not your ordinary, run of the mill, recession"
half job losses in last 3 mos, means it accelerating
re:criticisms
1--no govt intevention in marketplace
most economists recognize this big a problem govt. is important element to introduce additional demand into economy ($1 tril. this year, another $1 tril. next year loss of demand

2---(interrupted by phone, visitor)
Reuters--Iran?
all negatives create possibility of destabilizing region and contrary to our interests and international peace
---so we should employ all resources including diplomacy

3--Chip Reed?
bipartisanship?
What went wrong?
did you underestimate
O---a lot of bad habits built up in D.C., Americans get it
building trust over time---cabinet members, hope will be reciprocated
---but with economy, can't afford for Cong. to play usual political games
language--pork, wasteful spending when I hear that from folks who presided over unprecedented national debt--I inherited this
----no earmarks, just political rhetoric
bottom line is create 4 mil jobs, lay foundation for long term economic growth
don't call info tech in healthcare and greening federal buildings "wasteful"
school construction---short term jobs, long term economic benefit

4---Chuck Todd
isn't consumer spending what got us into this mess, shouldn't we worry about debt first?
O---not consumer spending, but bank irresponsibility
acknowledges savings rate declined and consumer economy for a long time--not sustainable
"The party now is over"
sequence now
1-stop spiral--put 4 in consumer pockets and two others, prop up economic recovery plan "I would love to not have to spend money right now"
2--mid-term and l.t. budget---figure out how to operate more prudently
change bad habits

5--Bloomberg
Won't govt need more than the current $350 bil
O---his immediate task is to make sure this is spent properly
before thinking what else needs to be done (conventional wisdom out there says we'll need another $1 tril for next year)
---also refers to banking issues still to be clarified tomorrow (tomorrow) and housing issues
we dont' know yet how much additional money we're going to need
ultimately govt can't substute for private capital that's gone out of system

6---Jake (Tapper)
how figure if what we've done is working or need to go to plan B
O--initial goal is save or create 4 mil. jobs
2--are credit markets operating effectively, business still can't get credit
normalize credit markets
3--stabilize housing market
can stem foreclosure rate, help stabilize housing values
4---job growth

7--CNN
Afghanistan troop withdrawal timetable and no more sneaking the war dead back into country
---O---
blah-blah more dead today, signing letters to families
---media coverage of dead policies---are reviewing, he needs to evaluate
--re:Afgan. "big challenge" (heh)
national govt. seems very detached from what's going on around country plus Taliban a big deal
---Holbrooke and Petreuas --- coordination with diplomacy and development and allies
bottom line: "This is a situation in which a region served as a base to launch an attack that killed 3,000 Americans"
---can't allow Al Q to operate and have safe havens in that region---
no timetable yet

8--Helene Cooper

will next bailout require banks to make loans
O---he's avoiding preempting SecTreas
but "one of my bottom lines is is the money flowing to consumers"
package designed to help do that

9--Major Garrett

Biden said 30% chance will get it wrongg--what talking about

O--not sure what B meant, but "any single thing that we do is going to be part of the solution, not all of the solution" and not everything they do will work out

10--Michael Fletcher--Wapo
?reaction to A-Rod's disclosure of steriod use
O---depressing, message to kids, baseball finally taking it seriously,

11--Helen!!!
re: Pakistan and safe havens in Afganistan---any country in Middle East have nuclear weapons? (she wants him to say Israel, nobody will do that in case you haven't noticed)
O---Holbrooke must warn Pakis they endangered as much as we are by the Al Q camps
re: nukes---"I don't want to speculate. What I know is this..."volatility puts everybody in danger...we with Russia must lead the way on this, we start reducing our arsenals together to give us standing to have more

12--Huffpo--Sam Stein
Leahy wants to set up bush admin. investigation
O--hasn't seen the proposal---but has said his admin. is going to operate in a way that leaves no doubt that w ndo not torture, abide by Geneva while vigorously pursuig those who will do us harm
"nobody is above the law" and where clear instances of wrongdoing, ppl should be prosecuted but more important to look forward rather than back
esp. members of intel
community

13--Mora Liasson---NPR (I am less than impressed with her)
bipartisanship---what need to do
O----old habits hard to break
coming off an election, people want to test the limits of what they can get, a lot of jockeying, positionng for next election
--people can't afford it right now
for the record R's were brought in early---pleasantly surprised---"I suppose what I could have done was start out with no tax cuts...then let them take the credit"
--need education reform (Dems, I'm looking at you) and entitlements need to be reformed (R's I'm looking at you)
---"my whole goal over the next 4 years"---pull people together around a pragmatic agenda
oppty with the recovery package---econ advisors to R's say we need a serious, spending effort
--"I am the eternal optimist" over time people respond to civility and rational argument