Biden's Interview with Harry Smith - Video

Mum's the word on the taliban leader capture. Joe Biden speaks on the stimulus and other topics. On what he's learned about Obama, Biden says Obama is unflappable. "He wants to hear every side of the argument. He doesn't want yes men."

Obama Speaks on the Anniversary of the Stimulus - Video

Noting that there is polling that suggests that taxes have gone up, Obama reminds people that 95% of people got a tax cut. No one will ever understand the stimulus, no matter what anyone says. I think that some things are just beyond the collective American minds. Economics isn't our strong suit. Read Biden's report on the stimulus here.

Romer: Stimulus Saved or Created 2 Million Jobs

See the quarterly report here.

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Cash for Appliances Coming

The program will be administered by states (funded by stimulus), which could offer $100 for each appliance traded in:

In U.S. history, there may have been no better time to own a junk car, a rattling old fridge and a leaking dishwasher.

On the heels of its ballyhooed "Cash for Clunkers" program for cars, the federal government is expected to finalize details in the coming weeks of another tax-supported shopping extravaganza, known as "Cash for Appliances ."

Supported by $300 million from the economic stimulus, the program will offer rebates to consumers who buy energy-efficient refrigerators, dishwashers, air conditioners and other appliances to replace their older models.

And like the $3 billion cars program that gave consumers money for swapping their clunkers for more fuel-efficient rides, the appliance initiative seems destined to inspire shoppers, drive up sales for a while and profoundly divide economists over how much lasting good this chunk of government spending will do for the economy. More at WaPo

Obama to Boost Jobs by 600,000 This Summer

Updated with video below.

It's only been four months since the stimulus has been in place, but people are still complaining that it's not working fast enough.
Also, many people don't understand that while the economy improves in other areas, jobs will be LAST to recover. Demand has to come back. Once people are wanting to buy things again, businesses will need to hire. But for now, consumers are saving, not buying, which in my opinion is a good thing. So Obama is accelerating jobs through public works projects and youth programs:

President Barack Obama today will promise to deliver more than 600,000 new jobs this summer with accelerated spending of some of the $787-billion economic stimulus that Congress approved at his urging earlier this year.

The promised boost in employment will not offset the job losses of recent months - with more than 1.6 million jobs shaved from the economy since Congress approved the stimulus plan in February. Unemployment last month reached 9.4 percent, the highest since 1983.

But the president, who plans to meet with economic advisers and his Cabinet at the White House today following his return from a five-day foreign trip, will promise hundreds of thousands of new jobs with an accelerated pace of spending on maintenance projects at military bases, about 1,600 road and airport projects, the hiring of some 135,000 teachers and other school staffers and 125,000 summer jobs for youth under the supervision of the Department of Labor.

""We have a long way to go on our road to recovery but we are going the right way," Obama will say, in a statement prepared for his announcement of stepped-up summer stimulus activity today. Swamp

Obama Talks Jobs In Ohio Jan. 16

Obama is going to Ohio to promote his jobs package. From Change.gov:

Washington—On Friday, January 16th, 2009, President-elect Barack Obama will travel to Bedford Heights, Ohio, to meet with workers and discuss an American Recovery and Reinvestment Plan, which would aim to save or create three to four million new American jobs and make the long-term investments needed to build a 21st century economy.

President-elect Obama will tour the Cardinal Fastener & Specialty Company, a growing company with innovative production practices that manufactures parts used to construct wind turbines. President-elect Obama will discuss how companies like Cardinal Fastener and workers like those in Bedford Heights would benefit from an American Recovery and Reinvestment Plan, which would aim to create nearly half a million American jobs by investing in clean energy like wind power.

President-elect Obama will tour the plant and then hold a meeting with workers on the factory floor. The meeting is by inviation only but open to the press. The tour will be pooled.

Republican's Ideas For Stimulus

Obama Says Keep Your Earmarks to Yourself

Or something like that.
Obama said today that he will not accept any earmarks in the economic package. He repeats that several times as you'll see in the transcript below. He also talks about Panetta and says after Jan. 20, he'll have plenty to say about Gaza. NYT's full transcript of his comments today:

.......
But we're not going to be able to expect the American people to support this critical effort unless we take extraordinary steps to ensure that the investments are made wisely and managed well. And that's why my recovery and reinvestment plan will have - will set a new higher standard of accountability, transparency, and oversight.

We are going to ban all earmarks, the process by which individual members insert pet projects without review. We will create an economic recovery oversight board made up of key administration officials and independent advisers to identify problems early and make sure we're doing all that we can to solve it. We will put information about where money is being spent online so that the American people know exactly where their precious tax dollars are going and whether we are hitting our marks.

But we're not going to be able to stop there. We're going to have to bring significant reform not just to our recovery and reinvestment plan, but to the overall budget process, to address both the deficit of dollars and the deficit of trust. We'll have to make tough choices, and we're going to have to break old habits. We're going to have to eliminate outmoded programs and make the ones that we do need work better.

The Q&A portion. One-President-At-A-Time on Gaza. He explains that discussing domestic affairs is okay but debating international affairs is not. That's probably because Obama's Middle East policy will be much different than Bush's. It doesn't seem like a good idea to confuse people on U.S. foreign policy when people are getting mangled and killed.

So with that, I'm going to take some questions. And let's start with you.

Question: Thank you, Mr. President-elect. Do you think that you'll be submitting a budget larger than the $3.1 trillion that President Bush submitted for fiscal '09? And, also, what are you doing to address concerns from other Democrats about deficit spending and increasing the deficit with the stimulus package?

Obama: Well, you know, I don't want to get into particular budget numbers, because we're obviously still in the process of reviewing what the existing budget looks like, where we can obtain some savings, what programs we can potentially eliminate. We will be submitting that budget later, after we've submitted the recovery and reinvestment plan.

I can give you a set of general principles, though. We know that we're going to have to spend money to jump-start the economy. I spoke about that yesterday.

We know that even if we did nothing that we have close to a trillion-dollar deficit, even if we were on the current path that we're on. And we know that we have to then implement a set of fiscal measures that deal with the medium and long term so that we have a sustainable path of economic growth.

So what I've assigned Peter to do is - and Rob and others - is to work with my economic team. They are part of the team that is putting together the accountability and oversight measures into the recovery act, but they also have this broader charge, which is, how do we get a fix on this budget so that, as the economy recovers, we start stabilizing the economy and - and getting our budget under control?

It's not just Democrat or Republican colleagues on the Hill that are concerned about this. I'm concerned about this. And so what I've said is, I'm going to be willing to make some very difficult choices in how we get a handle on this deficit. That's what the American people are looking for.

And, you know, what we intend to do this year, next year, and all the years that I'm in office is to demonstrate our seriousness, not by gimmicks, not by punting to future administrations the tough choices, but by making some of those tough choices while I'm in office.

Question: ... Earmarks, you said there will be none that get in there without review. Some people would argue even the so-called bridge to nowhere got review, some level of review ...

Obama: No, no, no. What I'm saying is - let me repeat what I said about that ... We will ban all earmarks in the recovery package. And I describe earmarks as the process by which individual members insert pet projects without review. So what I'm saying is, we're not having earmarks in the recovery package, period. I was describing what earmarks are.

Question: So there's - you're not suggesting there's some level of review that might ...

Obama: I'm saying there are no earmarks in the recovery package. That, that is the position that I'm taking.

Question: Well, if I may, I was just wondering if $200,000 sounds like about the right level at which the tax credits would be phased out. I know that's been thrown out there ...

Obama: You know, look, I think you can get some guidance from what I said during the campaign, but I don't want to be locked in to a particular number, Chuck, just because we're still formulating the details of the plan. OK ...

Question: Some are - some are questioning Leon Panetta's lack of intelligence - lack of experience on intelligence matters. Sorry about that. I know this is tricky for you since you haven't announced it yet, but what does he bring to the table for you?

Obama: Well, as you noted, I haven't made - haven't made a formal announcement about my intelligence team.

(cell phone rings)

Obama: That may be him calling now... finding out where it's at.

Obama: I have the utmost respect for Leon Panetta. I think that he is one of the finest public servants that we have. He brings extraordinary management skills, great political savvy, an impeccable record of integrity.

As chief of staff, he is somebody who - to the president - he's somebody who obviously was fully versed in international affairs, crisis management, and had to evaluate intelligence consistently on a day-to-day basis.

Having said all that, I have not made an announcement. When we make the announcement, I think what people will see is, is that we are putting together a top-notch intelligence team that is not only going to assure that I get the best possible intelligence unvarnished, that the intelligence community is no longer geared towards telling the president what they think the president wants to hear, but instead are going to be delivering the information that the president needs to make critical decisions to keep the American people safe.

I think what you're also going to see is a team that is committed to breaking with some of the past practices and concerns that have, I think, tarnished the image of the agencies, the intelligence agencies, as well as U.S. foreign policy.

Last point I will make, though, on this is that there are outstanding intelligence professionals in the CIA, in DNI, and others, and I have the utmost regard for the work that they've done, and we are committed to making sure that this is a team effort that's not looking backwards, but is looking forward to figure out how we're going to serve the American people best, OK?

Question: Thank you, Mr. President-elect. You're being put under a lot of pressure internationally to get more involved in the situation in Gaza. I understand you think there should only be one president at a time, but what do you have to say to the Israelis and the Palestinians who are fighting and dying in Gaza?

Obama: As I've said before, when it comes to foreign policy, I think the need to adhere to one president at a time is particularly important. In domestic policy, Democrats, Republicans, we can have arguments back and forth about what tax policies are going to be. When it comes to international affairs, other countries are looking to see who speaks for America. Right now, President George Bush, as president of the United States, speaks on behalf of the U.S. government and the American people when it comes to international affairs.

Obviously, I am deeply concerned about the conflict that's taking place there. I'm being fully briefed and monitored - monitoring the situation on a day-to-day basis. The loss of civilian life in Gaza and in Israel is a source of deep concern for me.

And after January 20th, I am going to have plenty to say about the issue. And I am not backing away at all from what I said during the campaign, that I - starting at the beginning of our administration, we are going to engage effectively and consistently in trying to resolve the conflicts that exist in the Middle East.

That's something that I'm committed to. I think it's not only right for the people in that region; most importantly, it's right for the national security of the American people and the stability that is so important to this country. So on January 20th, you will be hearing directly from me and my opinions on this issue. Until then, my job is to monitor the situation and put together the best possible national security team so that we hit the ground running once we are responsible for national security issues.

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Obama's Remarks After Economic Meeting Jan. 5

Today Obama met with Speaker of the House Nancy Pelosi and this week he'll meet with democrats and republicans on the economic package. He'll give an economic speech on Thursday. See photos here. He also met with his economic team today. Swift middle class tax cuts and incentives to business are the priority. Present at the meeting, according to The Hill, were:

Chief of Staff Rahm Emanuel, Treasury Secretary-nominee Timothy Geithner, chief economic adviser Lawrence Summers, energy czar Carol Browner, HHS Secretary-nominee Tom Daschle and Ron Klain, incoming chief of staff to Vice President-elect Biden.

Also present were Christina Romer, Obama’s chairwoman of the council economic affairs; Melody Barnes, the head of Obama's domestic policy council; and Peter Orszag, Obama’s incoming director of the Office of Management and Budget.

Here are some of the highlights. For the full transcript: CQ Politics:

SPEAKER: PRESIDENT-ELECT BARACK OBAMA

[*] OBAMA: Well, thanks for taking the time to come in for a moment.

You know, this is the core of my economic team, and the message of our meeting today is one that comes as no surprise to most Americans, and that is we are in a very difficult spot. The economy is bad. The situation is getting worse.

Last week, we learned that manufacturing had hit a 20-year low. On Friday, we’re going to get the final jobs report from this year, and every indication is that we will have lost in 2008 more jobs than at any time since World War II.

It’s clear that we have to act and we have to act now to address this crisis and break the momentum of the recession or the next few years could be dramatically worse. That’s the message that I delivered to Speaker Pelosi this morning. I will be meeting with Harry Reid and with the bipartisan leadership group this afternoon.

And the most important message today is that the situation is getting worse, we’ve got to act boldly, and we’ve got to act swiftly. We cannot delay.

....

Over the last few weeks, our economic crisis has only grown deeper. Two million Americans have now lost their jobs over the last year. We have a substantial number -- in fact, Christina Romer, our economist from the Council of Economic Advisers, indicates to me that in addition to the 2 million who’ve lost jobs, you’ve got 2.8 million who have moved from full-time work to part-time work.

So when you start counting in people who are underemployed, then the situation is very dire for American families.

Again, manufacturing’s hit a 28-year low.

OBAMA: Across America, millions of Americans are struggling with rising costs, growing debts, concerns about home foreclosure, a deepening sense of unease.

When I last met with my team, I asked them to continue their work on an American recovery and reinvestment plan that would not only create jobs in the short term, but also spur economic growth and lay the foundation for a sustained competitiveness in this global economy over the long term.

....One of the things that I’ve emphasized to my team -- and one of the things that I’ve emphasized to congressional leadership and will emphasize again today -- is that not only do we have to act boldly, swiftly and with a sufficient magnitude to make a difference, but we’ve also got to do things in a new way.

It’s not going to be sufficient for us just to fall back into the old Washington ways and simply throw money at the problem. We need to demand vigorous oversight; we need to have strict accountability in terms of how the -- the recovery and reinvestment plan operates.
The American people have a right to know how every dime of their money is spent, and that is going to be built into the plan, so that everybody understands what is being done in order to address this crisis.....

So I’m looking forward to meeting with both the Democrats and Republicans this afternoon. My expectation is that they will share the same sense of urgency that I do, that we are going to move quickly, that we’re not going to get bogged down in a lot of old-style politics on either side.
OBAMA: There’s not going to be a lot of finger-pointing or posturing. The American people need action now. That’s what I intend to provide as president of the United States. So with that, let me take a couple questions.
QUESTION: How fast does this plan need to move to passage?
And in moving swiftly and boldly, are you concerned at all about sacrificing transparency and a full examination of the process?
And also, if you don’t mind, could you also talk about the extent to which the tax cut part of this plan is political (OFF-MIKE) getting it passed?
OBAMA: Well, let take the second question first. Some of you, at least, were following the campaign. And for the last two years, I’ve talked about the need for middle-class tax cuts.
So the notion that me wanting to include relief for working families in this plan is somehow a political ploy, when this is -- was the centerpiece of my economic plan, for the last two years, doesn’t make too much sense.
What -- in a bad situation, there is a happy convergence between what I had pledged during the campaign and what’s required for the economy, right now, to put more money into the pockets of ordinary Americans who are more insecure about their jobs, who are continuing to see rising costs in an area like health care, who are struggling to make ends meet.
But, you know, we think it is very important to have a balanced recovery and reinvestment package. Part of it is going to be addressing consumers and making sure they’ve got money in their pockets.
Part of it is to provide incentives for businesses so that they start investing in plants and equipment that ultimately leads to jobs.
Part of it is going to be investing in the kinds of job-creating growth industries of the future, whether it’s health I.T., whether it’s energy, that assure economic competitiveness over the long term.
OBAMA: So I wouldn’t separate any of these parts. They’re all of a piece.
And, as far as your first question, we are confident that we can accomplish unprecedented transparency, even as we move this package forward. Not only will Congress know exactly what’s in this bill, but we’re exploring steps, for example, like putting on a Web site very detailed information about all the projects that are taking place, what kind of impact we expect them to have, what kinds of job growth we hope to generate as a consequence of any of the discrete items that we are -- that we’re putting forward.
QUESTION: Good afternoon, sir. To what extent has the violence in the Middle East distracted your team on the economic plan? And is the deadline for your stimulus -- are you still hoping for -- has it slipped to February?
(CROSSTALK)
OBAMA: Well, as I said before, I strongly believe that a president or a president-elect or his team should be able to do more than one thing at a time. And so, obviously, international affairs are of deep concern.
With the situation in Gaza, I’ve been getting briefed every day. I’ve had consistent conversations with members of the current administration about what’s taking place. That will continue.
I will continue to insist that when it comes to foreign affairs, it is particularly important to adhere to the principle of one president at a time, because there are delicate negotiations taking place right now, and we can’t have two voices coming out of the United States when you have so much at stake.
With respect to the timetable for the economic recovery and reinvestment plan, we are going to do most of this work this month.
OBAMA: And, you know, we’re not waiting. The reason I’m here today is that we are going to present our latest ideas to Congress. We expect them to begin this week on this process. And, you know, I expect to sign a bill to create 3 million jobs for the American people shortly after I get inaugurated.
QUESTION: Sir, what do you mean by shortly after?
(LAUGHTER)
OBAMA: Well, look, there are only so many days in the legislative process, and it’s going to take some time, even on an expedited schedule, to get a bill passed and on my desk. But we anticipate that by the end of January or the first week in February we have gotten the bulk of this done.
STAFF: Thanks, guys. We got to get to the Hill.
OBAMA: All right. Thank you.

A snippet from today:

Obama's Big Tax Cuts for Middle Class and Business

Big tax cuts, big speech this week.

Politico: Aiming to foster bipartisan support for his record-setting economic stimulus, President-elect Obama plans to propose huge tax cuts for businesses and middle-class workers that will total about 40 percent of the package, or up to $310 billion, congressional officials said.

The revelation is part of an intricately orchestrated roll-out of the plan that includes an appearance by Obama on Capitol Hill on Monday and a major speech about the economy later in the week.

Obama plans to ask Congress for a stimulus package of $675 billion to $775 billion, so the planned tax cuts will total about $270 billion to $310 billion, the officials said.

Obama strategists say he wants to get 80 or more votes in the 100-member Senate, and the emphasis on tax cuts is a way to defuse conservative criticism and enlist Republican support. read the rest.

What form will the tax cuts take?

For families, the tax cuts include the $500 “Making Work Pay” payroll tax credit Obama proposed during the campaign.

For businesses, the tax cuts would include breaks for small employers and a “new jobs credit.”

Dems are planning on getting the package to Obama in mid-February. More from MSNBC:

Congressional aides briefed on the measure say it probably would blend tax cuts of $500 to $1,000 for middle-class individuals and couples with about $200 billion to help revenue-starved states with their Medicaid programs and other operating costs. A large portion of the measure will go toward public works projects and include new programs such as research and development on energy efficiency and an expensive rebuilding of the information technology system for health care.

WSJ says the breaks could pack a punch:

The Obama tax-cut proposals, if enacted, could pack more punch in two years than either of President George W. Bush's tax cuts did in their first two years. Mr. Bush's 10-year, $1.35 trillion tax cut of 2001, considered the largest in history, contained $174 billion of cuts during its first two full years, according to Congress's Joint Committee on Taxation. The second-largest tax cut -- the 10-year, $350 billion package engineered by Mr. Bush's in 2003 -- contained $231 billion in 2004 and 2005.