Obama Signs Stimulus Bill into Law as Auto Industry Lays Off 50,000

February 17, 2009
New York

Today was another rough one for the U.S. economy with General Motors announcing 47,000 layoffs and Chrysler cutting 3,000. California sent out 10,000 pink slips to state employees, and the stock market dropped 4%.

However, President Barack Obama signed a large economic stimulus bill into law that will help prevent further layoffs, generate new jobs, make necessary investments in infrastructure, education, health care and energy, and aid the unemployed. Obama signed the bill in Denver with V.P. Biden, Gov Ritter and other local politicians in attendance.

After a long and contentious debate on Capital Hill with the GOP minority party voting almost unanimously against the stimulus bill, it finally passed last week by both the House and Senate and was signed into law this afternoon. In another sign of Barack Obama keeping his campaign promise about government transparency, we can all now logon www.recovery.org and see where the $787 billion is going.

Next up on the agenda for the 1-month old Administration is dealing with our broke banks - i.e. Bank of America and Citigroup, plus announcing a large Foreclosure-prevention plan to stem the crisis. On the foreign policy front, the President announced today that 17,000 additional U.S. troops will be sent to Afghanistan.

Back into the writer's chair

Since the last time I put my thoughts to the page, Barack Obama was elected the 44th President of the United States, a horrific terrorist attack occurred in India by a few dozen crazies, the U.S. economy fell into a serious recession, oil prices rose to $148 per barrel and then slid to $39, and a big-time money manager named Bernie Madoff was busted in the largest Ponzi scheme of all time (over $50 Billion).

Looking back, 2008 has been one of the most amazing, difficult and historic years that I can remember. A good year for news junkies, a sad one for fans of Tim Russert, and a bad year for employees (job cuts across every sector due to a worsening economy.) There were so many huge stories this year, none greater than the election of a 47-year old African-American named Barack Obama as the next leader of the free world. A pretty amazing feat for the American people, and a strong signal to the rest of the world that things are changing.

Here's one New Year's resolution... more regular posts on Politics, Film and other Stories.

Happy Holidays my friends. Best wishes to everyone for a peaceful and prosperous '09.

Obama in Iraq

Presumptive Democratic Nominee Barack Obama inside helicopter with General David Petraeus above Baghdad on July 22, 2008.

Dems choose Obama.

Obama @ Iowa Jefferson Jackson Dinner: 11.10.07

The Tipping Point

Hillary Clinton bombed last night's debate. Big time. Edwards was the most forceful in pointing out her inconsistencies, with Obama gracefully aluding to her lack of honesty and candor. MSNBC moderated the debate, exposing the real Hillary Clinton. My prediciton is this. Last night's debate will start a national dialogue in the press about her questionable votes, plans, and judgment. I will label last night's debate as the Tipping Point. Hillary Clinton has peaked and bound to lose some of her national lead. We'll see Obama rise. Edwards did perform well last night, as did Joe Biden. I can see him as a potential running mate, or Dodd. Unfortunately Tim Russert asked Kucinich about seeing UFO's, which put another nail in his coffin. Rule #1: never admit to seeing a UFO on TV as part of a political debate.

Fox Business Debut

Today Fox Business hits the airwaves. The new TV channel, part of Rupert Murdoch's media empire, will focus just on business. The question is, in what way? Fox Business will rival mainstay CNBC on television. The new cable channel benefits from News Corp.'s recent acquisition of the Wall Street Journal and Dow Jones. They will incorporate editorial from the Journal on the station, plus benefit from the brand. It looks like they have a few hot chicks to report the news! A reason to tune in?

Gore's Trifecta

Al Gore rounds out a good year by taking home the Nobel Peace Prize. Earlier this year he won an Oscar for 'An Inconvenient Truth' and an Emmy for his cable channel Current TV. Gore will be awarded the top prize on December 10 in Norway. Rumors of his jumping into the Presidential race are both wishful-thinking and based on speculation. His efforts to curb global warming are not, however. He has been recognized for helping to address the most pressing issue of our time. It's too bad the Supreme Court stopped the recount in Florida seven years ago. The world might look a lot different today.

3 Months is a Lifetime

After getting my head together today with the help of a few cups of coffee, I feel an urge to write to everybody here about the importance of Barack winning the Nomination. It's important on two fundamental levels:

1. Taking on the Republican Nominee (whether its Rudy, Romney, McCain or Thompson).

2. Starting fresh in 2009 with a real leader, a person who can turn America great again.

We've got "the guy". We've got the support. We've got the money. And we've got the infrastructure.

So, what's the problem? The problem I presume is the Media. It's the media that's telling the story of who's gonna be the Democratic nominee. They're overlooking the tight race in Iowa, the overall Primary process. They're jumping the gun and already talking about the General Election. Hillary can easily lose Iowa. She could lose New Hampshire and fall from there. So without crystal-balling, the facts are this: Iowa is in 3 months. Wars have been waged and won in less.

So everybody, fill up that coffee pot and get to work. Now, more than ever, our involvment via blogging, online activism, fundraising, and media influence will play a part in the outcome of the early primaries.

This may seem like yet another "pep talk", but perhaps we need it. I know I do.