Two months after winning the election, Mr. Obama warned that if Congress resisted or delayed approving a stimulus package designed to counter the worst effects of the recession, “a bad situation could become dramatically worse”.
He said in his speech: “At this particular moment, only government can provide the short-term boost necessary to lift us from a recession this deep and severe. Only government can break the vicious cycles that are crippling our economy where a lack of spending leads to lost jobs which leads to even less spending, where an inability to lend and borrow stops growth and leads to even less credit.”
Words in Mr. Obama's speech seemed to imply that government as a solution, rather than a problem. Continue to read the full story.
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