Submitted by: Submitted by skelehtor
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Category: Business and Industry
Date Submitted: 09/13/2011 06:29 AM
“This Week”
2/8/09
This weeks (2/8/09) edition of “This Week” had some very interesting perspectives on
the Stimulus package and proposal. The first guest on the show was Lawrence Summers.
He is the Director of the National Economic Council, and is pushing for the passing of
Obama’s Bill. A diagram of statistics on both the House and Senate Budgets is posted
for the public view, which shows the projected spending. Clearly, the House budget
was more “generous” with the billions proposed. Summers feels that we NEED to
have support in the stimulus for education, without having “wasteful programs” in this
presidency. He states firmly that this isn’t about anything but creating the best possible
bill for the country, as 600,000 jobs were lost in one month. That is about the number
of jobs in Maine as an entire state. During his interview, a clip from Senator Mitch
McConnell (Minority Leader) is shown in which he claims the New Deal didn’t work,
and we’re (Obama) repeating mistakes of the past all over again. Later in the show
Lawrence Summers is asked about our current state of depression, and states that times
are worse than after the Second World War. He is poked and prodded by Stephanopoulos
about the plan, but Summers holds strong and says he will not “preview” the bill for
the public just yet. This is the beginning of a process of repairing the economy. Credit
markets are not working correctly, and he believes a stimulus package putting more
money into the system will be effective.
The next interview conducted was with a gentleman named Michael Steele. He’s the
Chairman of the Republic National Committee. Right from the get go, Stephanopoulos
shares Lawrence Summers view from earlier, and so begins the controversy. He begins
by saying that Bush “inherited” a recession when inaugurated into office. This goes on
about how Bush’s spending was defiantly wrong, and spend entirely too much, but on...