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Bloomberg Report Details Obama Retreat From “Stimulus”

- October 26, 2012

Bloomberg Reports That, According To Obama’s Former Chief Of Staff Bill Daley, “Early In 2011, With Unemployment Hovering Above 9 Percent, Obama’s Aides Made A Calculated Decision To Stop Expending The President’s Political Capital To Defend The Program, Either By Its Name Or The Generic Term Stimulus.” Then, early in 2011, with unemployment hovering above 9 percent, Obama’s aides made a calculated decision to stop expending the president’s political capital to defend the program, either by its name or the generic term stimulus, said Bill Daley, Obama’s chief of staff at the time. ‘It was pretty obvious that people didn’t see a difference in the economy yet,’ Daley said. ‘You could see the investments, but you couldn’t see the returns on those investments.’” (Hans Nichols, “Stimulus Back In Obama’s Vocabulary After Year On Don’t-Say List,” Bloomberg, 10/26/12)

  • “‘After The 2010 Congressional Election, The Public Mood Was Very Much For Fiscal Responsibility,’ Daley Said.” (Hans Nichols, “Stimulus Back In Obama’s Vocabulary After Year On Don’t-Say List,” Bloomberg, 10/26/12)

2009: Obama Touted The Stimulus At 71 Events In Just Over 10 Months. “After signing the program into law on Feb. 17, 2009, at a Denver ceremony that included a rooftop tour of solar panels, Obama promoted the Recovery Act at 71 events for the next 10 1/2 months, according to a review of his public speeches. Throughout the year, he touted the stimulus at the White House and on the road, visiting companies that received grants and addressing firefighters and teachers whose jobs were saved by stimulus dollars.” (Hans Nichols, “Stimulus Back In Obama’s Vocabulary After Year On Don’t-Say List,” Bloomberg, 10/26/12)

2010: Obama Touted The Stimulus At 59 Events. “The next year, Obama kept at it, plugging the program at 59 appearances, including a visit to Fremont, California-based Solyndra, a solar panel company that received a $535 million federal loan guarantee and later filed for bankruptcy. After a midterm election that Obama described as a ‘shellacking,’ the stimulus-themed events mostly stopped, as Obama sought to get on the right side of public opinion.” (Hans Nichols, “Stimulus Back In Obama’s Vocabulary After Year On Don’t-Say List,” Bloomberg, 10/26/12)

2011: Obama Touted The Stimulus At 15 Events. “In 2011, he used the name Recovery Act at 15 events.” (Hans Nichols, “Stimulus Back In Obama’s Vocabulary After Year On Don’t-Say List,” Bloomberg, 10/26/12)

2012: Obama Has Touted The Stimulus “At 12 Events, With Half Of Them Fundraisers Where Obama Was In The Company Of The Democratic Party Faithful.” “This year, he has given it less attention, mentioning it at 12 events, with half of them fundraisers where Obama was in the company of the Democratic Party faithful.” (Hans Nichols, “Stimulus Back In Obama’s Vocabulary After Year On Don’t-Say List,” Bloomberg, 10/26/12)


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