Excerpts From The President's Speech About Stimulus Package A Year Ago

“We're in the midst of a serious financial crisis, and the federal government is responding with decisive action.”

“So I propose that the federal government reduce the risk posed by these troubled assets and supply urgently needed money so banks and other financial institutions can avoid collapse and resume lending.”

“Under normal circumstances, I would have followed this course. But these are not normal circumstances. The market is not functioning properly. There has been a widespread loss of confidence, and major sectors of America's financial system are at risk of shutting down.”

“I also understand the frustration of responsible Americans who pay their mortgages on time, file their tax returns every April 15, and are reluctant to pay the cost of excesses on Wall Street.

“But given the situation we are facing, not passing a bill now would cost these Americans much more later.”

“The government is the one institution with the patience and resources to buy these assets at their current low prices and hold them until markets return to normal.

“And when that happens, money will flow back to the Treasury as these assets are sold, and we expect that much, if not all, of the tax dollars we invest will be paid back.”

Some quotes from the previous President, from a speech given on Sept. 24, 2008…about a year ago. This was a 700 billion dollar bailout.

I know that many people opposing Obama's stimulus possibly opposed Bush's also, but I know that there are also a lot of hypocrites out there...and this little article was for you.