• Embed Doc
  • Copy Link
  • Readcast
  • Collections
  • CommentGo Back
 
Meet the Press, Transcript and Video Link February 15, 2009
More problems filling out the President's cabinet as GOP Sen. JuddGregg withdraws as Sec. of Commerce-designate overdisagreements with the final stimulus package. Senior Adviser toPresident Obama David Axelrod weighs in on this and the otherchallenges ahead for the new Obama administration -- the bankbailout, stabilizing housing markets and creating jobs. Plus, apolitical roundtable: National Journal's Ron Brownstein, TheWashington Post's Eugene Robinson, Politico's Roger Simon, and The Wall Street Journal's Kimberley Strassel.
MR. DAVID GREGORY: Our issues this Sunday: Day 26 of the Obamaadministration, and the $787 billion stimulus bill is on its way to the president'sdesk. A legislative victory, but it was far from bipartisan.(Videotape)REP. JOHN BOEHNER (R-OH): But a bill that was supposed to be about jobs, jobs, jobs has turned into a bill that's all about spending, spending and spending.(End videotape)MR. GREGORY: When will Americans actually see some relief? And what willthe administration do to solve the other economic problems, banks and housing?All of this as another Cabinet nomination goes bad; Republican Senator JuddGregg says never mind as Commerce secretary.(Videotape)SEN. JUDD GREGG (R-NH): The bottom line is this was simply a bridge too far for me.(End videotape)
 
MR. GREGORY: What now? Our guest: senior adviser to President Obama,David Axelrod.Then the political fallout from a productive yet tumultuous first three weeks. Our  political roundtable weighs in: Ron Brownstein, columnist for the NationalJournal; Eugene Robinson, columnist for The Washington Post; Roger Simon,chief political columnist for Politico; and Kimberly Strassel, columnist andeditorial board member of The Wall Street Journal.But first, the man who was chief strategist for candidate Obama and is now senior adviser to President Obama, David Axelrod.Welcome back to MEET THE PRESS.MR. DAVID AXELROD: Great to be here, David.MR. GREGORY: Certainly a productive time and a huge legislative victory withthis stimulus package. The president's claimed victory. And here's the bottom linequestion: What will this stimulus plan do to ease the recession this year?MR. AXELROD: Well, I think that there's going to be some immediate activity.You know, let's, let's understand, this is the worst economic downturn we've hadsince World War II. So our first mission is to try and slow the trajectory of it andturn it around. This will do that. This will help do that. We believe in the nextcouple of years that it will create three and a half million jobs. That's going to bevery important. We're also going to prevent the layoff of key personnel in states,like teachers, police, firefighters. We're going to help those who are caught in the,in the brunt of this with longer unemployment insurance, helping them with their health care. And ultimately we're going to put people to work doing the work thatAmerica needs done in energy, in health care, in education, rebuilding our roads, bridges, dams and levees. That's going to have a long-term effect and a short-termeffect. But a lot of those projects are going to begin soon. But...MR. GREGORY: But--yeah.MR. AXELROD: ...let's be clear, though, it's not going to be an overnightturnaround. The president's been clear; it took a long time for us to get in thismess, it's going to take a while for us to get out of it.MR. GREGORY: Unemployment is at 7.6 percent. That doesn't even capture people who have stopped looking for work.
 
MR. AXELROD: Yes.MR. GREGORY: Will this stimulus plan prevent unemployment from reaching 10 percent, do you think?MR. AXELROD: Well, that's our hope. That's our hope. There's no doubt thatwithout it that's what--that's where we were looking, double-digit unemployment.And that's what we're trying to forestall. We want to turn this thing around, and wethink that this will, will happen. That's why the president had such a sense of urgency of acting now. As you know, we lost 600,000 jobs last month, over oneand a half million in the last three months. The trajectory is horrible. This shouldhelp put the brakes on that and slow it down.MR. GREGORY: So you talk about jobs. The president has promised to save or create actually four million jobs. Your own economic reporting indicates that thatwon't be achieved until the fourth quarter of 2010. So as you say, this is notimmediate. But there's one prominent economist who says maybe that goal won't be reached. This is how it was reported in The Washington Post: "The final package `is just not going to pack the same jobs punch' as some earlier versions,which cost as much as $100 billion more, said Mark Zandi, chief economist of moodyseconomy.com, whose analyses have been cited by both White Houseofficials as well as congressional Democrats. Zandi estimates the measure willcreated only about 2.2 million jobs by the end of 2010, leaving unemploymenthovering around 10 percent and probably forcing lawmakers to undertake another stimulus plan." Another stimulus plan?MR. AXELROD: Well, look, let's see how this works out. I respect Mr. Zandi, butthere are all kinds of analyses by many economists saying different things. We believe that the three to four million number is an, an accurate number, a goodguess. But this is--this--it's--you know, there are some unknowns here. Let's givethis a try. We think this, this is the most ambitious recovery package in the, in thehistory of this country.MR. GREGORY: Right.MR. AXELROD: And let's move forward with it.MR. GREGORY: But is it ambitious enough? I mean, there are other economists--Paul Krugman writing this week, citing the Congressional BudgetOffice, saying that the economy is underproducing to the tune of what could be
of 00

Leave a Comment

You must be to leave a comment.
Submit
Characters: ...
You must be to leave a comment.
Submit
Characters: ...