Payroll Tax Cut Extension Just More Kicking Can Down the Road

President Obama and the Democrats are riding high after their "victory" over the Republicans. And that will last 2 months when we go through the gridlock and name calling all over again. What's going on is nothing political maneuvering having little to do with the fiscal/financial crisis facing America. The press isn't telling you this. They are busy playing up the drama and telling us who's ahead in some meaningless Presidential campaign poll. Anyone want to talk about how we get Americans back to work?:

Ahead of Christmas, President Barack Obama today achieved a major political victory when Republicans in the House of Representatives caved to his demands and agreed to extend the pay roll tax cut for 160 million American workers for two months.

Welcoming the deal reached by congressional leaders, Obama said it was a victory for weary Americans as they prepared for Christmas.

This is good news, just in time for the holidays. This is the right thing to do to strengthen our families, grow our economy, and create new jobs," he said in a statement.

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President Obama on Meet the Press: Transcript (12-7-08)

President-elect Barack Obama appeared on Meet the Press (12-7-08) on Tom Brokaw's last show. Read the complete transcript and see the video here.

MR. BROKAW: Very nice to have you with us. As we saw in the opening, the world has gotten considerably worse since your election. There is no evidence that it's cause and effect, you should be happy to know. But, nonetheless, we now are officially in a recession. It's around the world, and most analysts think it's going to get worse before it gets better. Sixty-seven years ago this day, one of your predecessors, Franklin Roosevelt, faced Pearl Harbor.

PRES.-ELECT OBAMA: Right.

MR. BROKAW: What are the differences between his challenges and the ones that you face?

PRES.-ELECT OBAMA: Well, first of all, I think it's important for us to remember that as tough as times are right now, they're nothing compared to what my grandparents went through, what the "greatest generation" went through. You know, at this point you already had 25, 30 percent unemployment across the country, and we didn't have many of the social safety nets that emerged out of the New Deal. So there's no doubt that Franklin Roosevelt had to re-create an entire economic structure that had entirely collapsed, and we've got some strengths that he didn't, he didn't have.

But, look, if you look at the unemployment numbers that came out yesterday, if you think about almost two million jobs lost so far, if you think about the fragility of the financial system and the fact that it is now a global financial system, so that what happens in Thailand or Russia can have an impact here, and obviously, what happens on Wall Street has an impact worldwide, when you think about the structural problems that we already had in the economy before the financial crisis, this is a big problem and it's going to get worse. And, and one of the things that I'm constantly mindful of are all the people I met during the campaign who were already struggling before things got worse. You know, mothers and fathers who were working hard every day but didn't have health care, couldn't figure out how to send their kids to college. Now they're looking at pink slips, jobs being shipped overseas that devastate entire towns. And that's why my number one priority coming in is making sure that we've got an economic recovery plan that is equal to the task.

MR. BROKAW: Here's what you had to say a short time ago to the national conference of governors. It was kind of a reality check for them to put it in some kind of a context. Let's share that with our audience now, if we can.

(Videotape, Tuesday)

PRES.-ELECT OBAMA: We're going to have to make hard choices. Like the ones that you're making right now in your state capitals, we're going to have to make in Washington. And we are not, as a nation, going to be able to just keep on printing money; so, at some point, we're also going to have to make some long-term decisions in terms of fiscal responsibility and not all of those choices are going to be popular.

(End videotape)

MR. BROKAW: On this program about a year ago, you said that being a president is 90 percent circumstances and about 10 percent agenda. The circumstances now are, as you say, very unpopular in terms of the decisions that have to be made. Which are the most unpopular ones that the country's going to have to deal with?

PRES.-ELECT OBAMA: Well, fortunately, as tough as times are right now--and things are going to get worse before they get better--there is a convergence between circumstances and agenda. The key for us is making sure that we jump-start that economy in a way that doesn't just deal with the short term, doesn't just create jobs immediately, but also puts us on a glide path for long-term, sustainable economic growth. And that's why I spoke in my radio address on Saturday about the importance of investing in the largest infrastructure program--in roads and bridges and, and other traditional infrastructure--since the building of the federal highway system in the 1950s; rebuilding our schools and making sure that they're energy efficient; making sure that we're investing in electronic medical records and other technologies that can drive down health care costs. All those things are not only immediate--part of an immediate stimulus package to the economy, but they're also down payments on the kind of long-term, sustainable growth that we need.

President Obama Press Conference (12-1-08)

President-elect Obama held a press/news conference to introduce his new Secretary of State, Hillary Clinton. Read the complete transcript here.

Last week, we announced our economic team, which is working as we speak to craft an economic recovery program to create jobs and grow our struggling economy. Today, Vice President-elect Biden and I are pleased to announce our national security team.

The national security challenges we face are just as grave and just as urgent as our economic crisis. We are fighting two wars. Our old conflicts remain unresolved, and newly assertive powers have put strains on the international system. The spread of nuclear weapons raises the peril that the world's deadliest technologies could fall into dangerous hands. Our dependence on foreign oil empowers authoritarian governments and endangers our planet.

America must also be strong at home to be strong abroad. We need to provide education and opportunity to all our citizens, so every American can compete with anyone, anywhere. And our economic power must sustain our military strength, our diplomatic leverage, and our global leadership.

The common thread linking these challenges is the fundamental reality that in the 21st century our destiny is shared with the world's. From our markets to our security, from our public health to our climate, we must act with that understanding that, now more than ever, we have a stake in what happens across the globe. And as we learned so painfully on 9/11, terror cannot be contained by borders, nor safely provided by oceans alone.

Last week, we were reminded of this threat once again when terrorists took the lives of six Americans among nearly 200 victims in Mumbai. In the world we seek, there is no place for those who kill innocent civilians to advance hateful extremism. This weekend, I told Prime Minister Singh of India that Americans stand with the people of India in this dark time. And I am confident that India's great democracy is more resilient than killers who would tear it down.

And so, in this uncertain world, the time has come for a new beginning, a new dawn of American leadership to overcome the challenges of the 21st century and to seize the opportunities embedded in those challenges. We will strengthen our capacity to defeat our enemies and support our friends. We will renew old alliances and forge new and enduring partnerships. We will show the world once more that America is relentless in the defense of our people, steady in advancing our interests and committed to the ideals that shine as a beacon to the world -- democracy and -- (audio break) -- because American values are America's greatest export to the world.

To succeed, we must pursue a new strategy that skillfully uses, balances and integrates all elements of American power: our military and diplomacy, our intelligence and law enforcement, our economy and the power of our moral example.

The team that we've assembled here today is uniquely suited to do just that. In their past service and plans for the future, these men and women represent all of those elements of American power, and the very best of the American example. They have served in uniform and as diplomats; they have worked as legislators, law enforcement officials and executives. They share my pragmatism about the use of power, and my sense of purpose about America's role as a leader in the world.

I have known Hillary Clinton as a friend, a colleague, a source of counsel and a tough campaign opponent. She possesses an extraordinary intelligence and a remarkable work ethic. I am proud that she will be our next secretary of State. She is an American of tremendous stature who will have my complete confidence, who knows many of the world's leaders, who will command respect in every capital, and who will clearly have the ability to advance our interests around the world.

Hillary's appointment is a sign to friend and foe of the seriousness of my commitment to renew American diplomacy and restore our alliances. There is much to do -- from preventing the spread of nuclear weapons to Iran and North Korea, to seeking a lasting peace between Israel and the Palestinians, to strengthening international institutions. I have no doubt that Hillary Clinton is the right person to lead our State Department, and to work with me in tackling this ambitious foreign policy agenda.

At a time when we face an unprecedented transition amidst two wars, I have asked Secretary Robert Gates to continue as secretary of Defense, and I'm pleased that he's accepted. Two years ago, he took over the Pentagon at a difficult time. He restored accountability. He won the confidence of military commanders, and the trust of our brave men and women in uniform, as well as their families. He earned the respect of members of Congress on both sides of the aisle for his pragmatism and competence. He knows that we need a sustainable national security strategy, and that includes a bipartisan consensus at home.

President-elect Obama News Conference (11-26-08)

Obama held his 4th press/news conference as President elect on Wednesday (11-26-08). Read the complete transcript.

PRESIDENT-ELECT OBAMA: It has been increasingly clear in recent months -- and we saw some additional reports this morning -- that we're facing an economic crisis of historic proportions. And at this defining moment in our nation's history, the old ways of thinking and the old ways of acting just won't do. We're called to seek fresh thinking and bold new ideas from the leading minds across America. And as we chart a course to economic recovery, we must ensure that our government -- your government -- is held accountable for delivering results.

Today, I'm pleased to announce the formation of a new institution to help our economic team accomplish these goals: the President's Economic Recovery Advisory Board. This board is modeled on the President's Foreign Intelligence Advisory Board created by President Eisenhower to provide rigorous analysis and vigorous oversight to our intelligence community by individuals outside of government -- individuals who would be candid and unsparing in their assessment. This new board will perform a similar function for my administration as we formulate our economic policy.

The board will be composed of distinguished individuals from diverse backgrounds outside of government -- from business, labor, academia and other areas -- who will bring to bear their wisdom and expertise on the formulation, implementation and evaluation of my administration's economic recovery plan. The board will report regularly to me, Vice President-Elect Biden and our economic team as we seek to jump-start economic growth, create jobs, raise wages, address our housing crisis, and stabilize our financial markets.

Let me speak to why I think this is necessary. The reality is is that sometimes policymaking in Washington can become a little bit too ingrown, a little bit too insular. The walls of the echo chamber can sometimes keep out fresh voices and new ways of thinking. You start engaging in groupthink. And those who serve in Washington don't always have a ground-level sense of which programs and policies are working for people and businesses, and which aren't.

This board will provide that fresh perspective to me and my administration with an infusion of ideas from across the country and from all sectors of our economy, input that will be informed by members' firsthand observations of how our efforts are impacting the daily lives of our families.

I'm pleased to announce that this board will be chaired by one of the world's foremost economic policy experts, a former chairman of the Federal Reserve and one of my most trusted advisors, Paul Volcker. Paul has been by my side throughout this campaign, providing a deep understanding of financial markets, extensive experience managing economic crises, and keen insight into the global nature of this particular crisis. Paul has served under both Republicans and Democrats, and is held in the highest esteem for his sound and independent judgment. He pulls no punches. He seems to be fairly opinionated. (Laughter.) He has a long and distinguished record of service to our nation, and I am pleased that he's answered the call to serve once again.

President Obama Job Creation Video Address (11-21-08)

President Barack Obama made a brief video address on a job creation plan for bolstering the economy. His goal is to create 2.5 million jobs over 2 years.

Bloomberg on Obama's radio address:

President-elect Barack Obama said he aims to create 2.5 million new U.S. jobs in a two-year plan to simulate an economy facing a “crisis of historic proportions.”

Obama, in his weekly radio address, today said that “financial markets faced more turmoil,” potentially leading to a “deflationary spiral” that may plunge the nation further into debt and cost millions more jobs. New home purchases in October were the lowest in half a century and 540,000 more jobless claims were filed last week, the highest in 18 years, he said today.

Job losses in the U.S. have totaled 1.2 million this year as the economy entered a slowdown exacerbated by the worst credit crisis in seven decades. More firings will weigh on the economy and consumer spending, putting pressure on Obama and Congress to agree on legislation that will stimulate growth.

“I have already directed my economic team to come up with an economic recovery plan that will mean 2.5 million more jobs by January of 2011 -- a plan big enough to meet the challenges we face that I intend to sign soon after taking office” on Jan. 20, Obama said. “We have now lost 1.2 million jobs this year, and if we don’t act swiftly and boldly, most experts now believe that we could lose millions of jobs next year.”

al Qaeda No. 2 Insults Obama with a Racial Epithet

Bin Laden's deputy, Ayman al-Zawahri, (video and transcript below) is not only a murderer but a racist. He also doesn't know much about American history. He attacks Barack Obama, who has had his name mispronounced deliberately on many occasions to read Osama, and defends Malcolm X. Wasn't Malcolm X murdered by a Muslim?

Al-Qaida's No. 2 leader used a racial epithet to insult Barack Obama in a message posted Wednesday, describing the president-elect in demeaning terms that imply he does the bidding of whites.

The message appeared chiefly aimed at persuading Muslims and Arabs that Obama does not represent a change in U.S. policies. Ayman al-Zawahri said in the message, which appeared on militant Web sites, that Obama is "the direct opposite of honorable black Americans" like Malcolm X, the 1960s African-American rights leader.

In al-Qaida's first response to Obama's victory, al-Zawahri also called the president-elect — along with secretaries of state Colin Powell and Condoleezza Rice — "house negroes."

Speaking in Arabic, al-Zawahri uses the term "abeed al-beit," which literally translates as "house slaves." But al-Qaida supplied English subtitles of his speech that included the translation as "house negroes."

The message also includes old footage of speeches by Malcolm X in which he explains the term, saying black slaves who worked in their white masters' house were more servile than those who worked in the fields. Malcolm X used the term to criticize black leaders he accused of not standing up to whites.

In Washington, State Department spokesman Sean McCormack said the latest message was just "more despicable comments from a terrorist."

The 11-minute 23-second video features the audio message by al-Zawahri, who appears only in a still image, along with other images, including one of Obama wearing a Jewish skullcap as he meets with Jewish leaders. In his speech, al-Zawahri refers to a Nov. 5 U.S. airstrike attack in Afghanistan, meaning the video was made after that date.

Al-Zawahri said Obama's election has not changed American policies he said are aimed at oppressing Muslims and others.

Here is complete transcript of Zawahri diatribe.

Muslim brothers everywhere: Peace be upon you and the Mercy of Allah and His blessings. As for what comes after:

Barack Obama has won the presidency of the United States of America, and on this occasion, I would like to send several messages.

First, a message of congratulations to the Muslim Ummah on the American people's admission of defeat in Iraq. Although the evidence of America's defeat in Iraq appeared years ago, Bush and his administration continued to be stubborn and deny the brilliant midday sun. If Bush has achieved anything, it is in his transfer of America's disaster and predicament to his successor. But the American people, by electing Obama, declared its anxiety and apprehension about the future towards which the policy of the likes of Bush is leading it, and so it decided to support someone calling for withdrawal from Iraq.

The second of these messages is to the new president of the United States. I tell him: you have reached the position of president, and a heavy legacy of failure and crimes awaits you. A failure in Iraq to which you have admitted, and a failure in Afghanistan to which the commanders of your army have admitted. The other thing to which I want to bring your attention is that what you've announced about how you're going to reach an understanding with Iran and pull your troops out of Iraq to send them to Afghanistan is a policy which was destined for failure before it was born. It appears that you don't know anything about the Muslim Ummah and its history, and the fate of the traitors who cooperated with the invaders against it, and don't know anything about the history of Afghanistan and its free and defiant Muslim people. And if you still want to be stubborn about America's failure in Afghanistan, then remember the fate of Bush and Pervez Musharraf, and the fate of the Soviets and British before them. And be aware that the dogs of Afghanistan have found the flesh of your soldiers to be delicious, so send thousands after thousands to them.

President Obama on 60 Minutes: Transcript (11-16-08)

Read the complete transcript.

Kroft: Has this been easier than the campaign trail?

Mr. Obama: Well, it's different. I think that during the campaign it is just a constant frenetic, forward momentum. Here, I'm stationary. But the issues come to you. And we've got a lot of work to do. We've got a lot of problems, a lot of big challenges.

Kroft: Have there been moments when you've said, 'What did I get myself into?'

Mr. Obama: Surprisingly enough, I feel right now that I'm doing what I should be doing. That gives me a certain sense of calm. I will say that the challenges that we're confronting are enormous. And they're multiple. And so there are times during the course of a given a day where you think, 'Where do I start?'

Kroft: What have you been concentrating on this week?

Mr. Obama: Couple of things. Number one, I think it's important to get a national security team in place because transition periods are potentially times of vulnerability to a terrorist attack. We wanna make sure that there is as seamless a transition on national security as possible. Obviously the economy. Talking to top economic advisors about how we're gonna create jobs, how we get the economy back on track and what do we do in terms of some long-term issues like energy and healthcare. And how do we sequence those things in a way that we can actually get things through Congress?

Kroft: Are you in sync with Secretary Paulson in terms of how the $700 billion is being used?

Mr. Obama: Well, look, Hank Paulson has worked tirelessly under some very difficult circumstances. We've got an unprecedented crisis, or at least something that we have not seen since the Great Depression. And I think Hank would be the first one to acknowledge that probably not everything that's been done has worked the way he had hoped it would work. But I'm less interested in looking backwards than I am in looking forwards.

Kroft: The government has spent almost $300 billion out of the TARP program.

Mr. Obama: Right.

Kroft: Money that was set aside to help the financial industry. And nothing much has changed if you look at it. Nothing much has changed. It’s $300 billion. Why is that?

Mr. Obama: I think the part of the way to think about it is things could be worse. I mean, we could have seen a lot more bank failures over the last several months. We could have seen an even more rapid deterioration of the economy, even a bigger drop in the stock market. So part of what we have to measure against is what didn't happen and not just what has happened.

Having said that, there's no doubt that we have not been able yet to reset the confidence in the financial markets and in the consumer markets and among businesses that allow the economy to move forward in a strong way. And my job as president is gonna be to make sure that we restore that confidence.

(CBS) Kroft: Once you become president, are there things that you'll change?

Mr. Obama: Well, you know I think we still have to see how this thing unfolds over the next couple of months. One area that I'm concerned about, and I've said this publicly, is we have not focused on foreclosures and what's happening to homeowners as much as I would like. We have the tools to do it. We've gotta set up a negotiation between banks and borrowers so that people can stay in their homes. That is gonna have an impact on the economy as a whole. And, you know, one thing I'm determined is that if we don't have a clear focused program for homeowners by the time I take office, we will after I take office.

Kroft: Are you being consulted by Secretary Paulson?
Is he telling you what's going on?

Mr. Obama: You know what we've done is we've assigned somebody on my transition team who interacts with him on a daily basis. And, you know, we are getting the information that's required to and we're making suggestions in some circumstances about how we think they might approach some of these problems.

Obama Victory Speech: Transcript, Video (11-4-08)

Read the complete transcript of Barack Obama's speech (video below) after being projected as the historic winner last night before a massive crowd in Chicago. Also read John McCain's gracious concession speech.

If there is anyone out there who still doubts that America is a place where all things are possible, who still wonders if the dream of our founders is alive in our time, who still questions the power of our democracy, tonight is your answer.

It's the answer told by lines that stretched around schools and churches in numbers this nation has never seen, by people who waited three hours and four hours, many for the first time in their lives, because they believed that this time must be different, that their voices could be that difference.

It's the answer spoken by young and old, rich and poor, Democrat and Republican, black, white, Hispanic, Asian, Native American, gay, straight, disabled and not disabled. Americans who sent a message to the world that we have never been just a collection of individuals or a collection of red states and blue states.

We are, and always will be, the United States of America.

It's the answer that led those who've been told for so long by so many to be cynical and fearful and doubtful about what we can achieve to put their hands on the arc of history and bend it once more toward the hope of a better day.

It's been a long time coming, but tonight, because of what we did on this date in this election at this defining moment change has come to America.

A little bit earlier this evening, I received an extraordinarily gracious call from Sen. McCain.

Sen. McCain fought long and hard in this campaign. And he's fought even longer and harder for the country that he loves. He has endured sacrifices for America that most of us cannot begin to imagine. We are better off for the service rendered by this brave and selfless leader.

I congratulate him; I congratulate Gov. Palin for all that they've achieved. And I look forward to working with them to renew this nation's promise in the months ahead.

I want to thank my partner in this journey, a man who campaigned from his heart, and spoke for the men and women he grew up with on the streets of Scranton and rode with on the train home to Delaware, the vice president-elect of the United States, Joe Biden.

And I would not be standing here tonight without the unyielding support of my best friend for the last 16 years the rock of our family, the love of my life, the nation's next first lady Michelle Obama.

Sasha and Malia I love you both more than you can imagine. And you have earned the new puppy that's coming with us to the new White House.

And while she's no longer with us, I know my grandmother's watching, along with the family that made me who I am. I miss them tonight. I know that my debt to them is beyond measure.

To my sister Maya, my sister Alma, all my other brothers and sisters, thank you so much for all the support that you've given me. I am grateful to them.

And to my campaign manager, David Plouffe, the unsung hero of this campaign, who built the best -- the best political campaign, I think, in the history of the United States of America.

To my chief strategist David Axelrod who's been a partner with me every step of the way.

To the best campaign team ever assembled in the history of politics you made this happen, and I am forever grateful for what you've sacrificed to get it done.

But above all, I will never forget who this victory truly belongs to. It belongs to you. It belongs to you.

I was never the likeliest candidate for this office. We didn't start with much money or many endorsements. Our campaign was not hatched in the halls of Washington. It began in the backyards of Des Moines and the living rooms of Concord and the front porches of Charleston. It was built by working men and women who dug into what little savings they had to give $5 and $10 and $20 to the cause.

Obama Interview with CBS' Katie Couric: Transcript (11-3-08)

Read the complete transcript.

Katie Couric: Let's talk about single-party rule for a moment. Some critics describe it as all accelerator and no brakes. There are fears that perhaps an unbridled, unchecked, filibuster-proof Democratic majority will overreach and move the country too far to the left. How do you assuage people's concerns about that?

Barack Obama:Well, look, I mean first of all, I think it's important to point out that the critics who make this claim are Republicans. (laughter)

Couric: But you know, against one-party rule.

Obama: I understand. I understand. But they weren't making those same complaints a few years ago. On the other hand, we've seen the example of a Republican Congress and President overreaching …

Couric: And a Democratic one in the Clinton administration.

Obama: And so I think the concerns are legitimate. Look, the benefit of having a Democratic president and a Democratic Congress will be that hopefully you can actually move on some big issues like energy or healthcare that have been sitting there for decades. We know they're huge problems. We know we've got to change how we do business there. But we just haven't been able to round up consensus to get it done.

The flip side of it is if Democrats come in and say to themselves, "it's our turn and we're just going to go crazy doing whatever it is that we feel like - I think then their majority won't last very long.

Couric: The Economist, while endorsing you, has also said there are some legitimate criticisms of you that John McCain should be focused on. They say that you are one of the least business-friendly Democratic candidates in a generation, that you have no experience in the business world aside from year as a consultant, and that you're too close to unions and trial lawyers.

Obama: Well, it is The Economist. And the fact that they endorsed me, how about reading all the good stuff they said about me? (laughter)

Couric: Well, that's in another issue. (laughter) That's later.

Obama: You know, I think there's a reason why people like Warren Buffet have endorsed me. I think that if you look actually at our business support, it's pretty remarkable. People like Eric Schmidt, the head of Google who … has said that, you know, I understand how the global economy works, how we have to adapt to a new 21st century competitive environment. Now, what is also true is that I think our economy works best when it grows from the bottom up, when everybody's benefiting. And that's one of the lessons I think of the last 16 years. We really had an experiment. We had Bill Clinton who was, you know, accused of, you know, raising taxes on business and so forth. But, in fact, what happened was the whole economy grew at every sector.

And businesses did well because their customers were doing well. On the other hand, you had George Bush who figured let's cut taxes for the wealthiest Americans. Let's deregulate to the hilt. And, you know, what we now see is that when Main Street is hurting, when its wages and income isn't going up, then businesses are hurt as well. So I actually think that the approach that I take is very business-friendly.

I think that capitalism and the free market is the best economic system ever devised to create wealth. But I also think there has to be some basic rules to the road. And, you know, we have learned that lesson during this latest financial crisis.

Obama with Bill Clinton in Florida: Video (10-29-08)

Bill Clinton appeared with Barack Obama last night in Kissimmee, Florida. Video below.

Obama on the 'Daily Show': video, Transcript (10-29-08)

Obama appeared on Jon Stewart's 'Daily Show' program. Read the complete transcript.

Jon Stewart: William Jefferson Clinton and you in Florida. Now, I know Florida, many of my people go there to retire. You might want to hold the rally early. They don't like to miss their shows at night or the early-bird special at the diner. So, whatever you can....

Barack Obama: No comment on that, Jon. I'm trying to win Florida.

Jon Stewart: What a wise man. I thought that at this point, you would be doing sort of a four corners offense, playing kind of a delay game, but you really are going at it. Tell me about this half-hour special that aired earlier tonight. What is this?

Barack Obama: Well, this is the Obama infomercial. I'll tell you a quick story. We're buying time on a lot of the stations. I was describing this to Michelle and my daughters, and Malia who is ten, she said "Hold up a second. Are you saying my programs are going to be interrupted?" I said no we didn't buy on Disney. She was relieved, but for everybody else who wants to watch, they're going to have a chance to take a look at not just sort of a pitch for me but really what we try to do is tell a story about what's happening in families all across America. We've got four families that we feature. All of them have great hopes, but all of them are struggling too. We want to talk about what the next four years would mean for them.

Jon Stewart: Will it annoy us? Or will we like it? Afterwards, will we think, did he just sell me a Shamwow? What the hell just happened? Or will we feel comforted and, you know....

Barack Obama: I hope what people will come away with, I hope they'll say to themselves you know what? This election is really important. These families that have been featured remind me of either myself or people I that know. I hope they'll have a better sense of exactly what I want to do as president. That's all you can do. At this stage, everything that needs to be said has probably been heard by a lot of voters. What you want to do is remind them one more time. Here's what I'm going to do, not oversell, let people make up their minds. That's how democracy works.

Jon Stewart: So much of this has been about fear of you. An elitist, a celebrity, a Muslim terrorist sympathizer. A Socialist, a Marxist, a witch. That's right. They've been calling you a witch. They're saying if you do win, is that a mandate for Socialism in this country? Has any of this fear stuff, do you think it's stuff with the electorate? Are you finding that on the trail?

Barack Obama: You know, it just hasn't. I mean, I think, there's a certain segment of hard-core Sean Hannity fans that probably wouldn't want to go have a beer with me, there's no doubt about that. But I think for the average voter, they're saying to themselves, what's all this stuff about? I'm trying to figure out whether I can hang on to my house or who is going to help me get a job or what about my health care, my premiums have doubled over the last couple of years. So I don't think that they're paying too much attention to this stuff. And the whole Socialism argument that doesn't fly too well. The evidence of this seems pretty thin. I said today that I think they found proof that when I was in kindergarten I shared some toys with my friends. That's clearly a sign that of subversive activity now, I can tell you, Jon, that being on your program I think is further evidence of these tendencies.

Obama Infomercial Video (10-29-08)

Obama's 30 minute infomercial aired tonight: "American Stories, American Solutions"

Obama Speech in Denver: Transcript (10-26-08)

Obama spoke before an enormous crowd in Denver,Colorado. Read the complete transcript.

Colorado, in just 9 days, you'll have the chance to elect your next President. And you'll have the chance to bring the change we need to Washington. That's the good news. But we're going to have to work, and struggle, and fight for every single one of those 9 days to move our country in a new direction. We cannot let up. And we won't.

Because one thing we know is that change never comes without a fight. In the final days of campaigns, the say-anything, do-anything politics too often takes over. We've seen it before. And we're seeing it again today. The ugly phone calls. The misleading mail and TV ads. The careless, outrageous comments. All aimed at keeping us from working together, all aimed at stopping change.

Well, this isn't what we need right now. The American people don't want to hear politicians attack each other – you want to hear about how we're going to attack the challenges facing middle class families each and every day. So what we need now is honest leadership and real change, and that's why I'm running for President of the United States.

This is a moment of great uncertainty for America. The economic crisis we face is the worst since the Great Depression. Businesses large and small are finding it impossible to get loans, which means they can't buy new equipment, or hire new workers, or even make payroll for the workers they have.

We've lost more than 750,000 jobs this year. Wages are lower than they've been in a decade, at a time when the cost of health care and college have never been higher. It's getting harder and harder to make the mortgage, or fill up your gas tank, or even keep the electricity on at the end of the month. At this rate, the question isn't just “are you better off than you were four years ago?”, it's “are you better off than you were four weeks ago?”

So what we need right now is a real debate about how to fix our economy and help middle class families. But that's not what we're getting from the other side. A couple of weeks ago, my opponent's campaign said that “if we keep talking about the economy, we're going to lose”, so they said they'd be focusing on attacking me instead.

And that's one campaign promise they've actually kept. Senator McCain has been throwing everything he's got at us, hoping something will stick. He's even called me a socialist for suggesting that we focus on tax cuts, not for corporations and the wealthy, but for the middle class.

The other day, he took it to a whole new level. He said that I was like George W. Bush. You can't make this stuff up, folks. In what may be the strangest twist of all, Senator McCain said that I would somehow continue the Bush economic policies – and that he, John McCain, would change them.

But then, just this morning, Senator McCain said that he and President Bush – “share a common philosophy.” That's right, Colorado. I guess that was John McCain finally giving us a little straight talk, and owning up to the fact that he and George Bush actually have a whole lot in common.

Desperate Republicans Makeup Ayers, Barack Obama Friendship

Senator Obama maybe showed poor judgment in going to the home of a unrepentant terrorist. But he was brought to the home of Ayers by Obama's State Senate predecessor, Alice Palmer. That is not the same as saying that they were pals. Obama was there to promote his candidacy not because he admired Ayers. And there hasn't been any evidence shown that there was much contact between the two individuals since then, 13 years later. When Ayers made those detestable remarks in 2001 ("I don't regret setting bombs. I don't think we did enough.") was Obama "associating" himself with Ayers? Does Obama even know about those remarks? If they were pals where are the pictures? Did Ayers ever visit the home of Mr.Obama, as you would expect from friends? Has Obama ever had dinner with Ayers --who lives nearby? Doesn't sound like much of a friendship.

And why hasn't anyone at the University where Ayers teaches objected to his presence there? And did anyone object to the fact that Ayers worked for Mayor Richard M. Daley? Despite his past, Ayers is a respected member of his community. He lives openly and freely without anyone objecting to his presence in their community. Why weren't Republicans objecting in 1995? And if the Obama association with Ayers is so bad why do pro-Republican news outlets like FOX make false claims that Ayers was a "mentor" to Obama?

Now even McCain supporters, like Republican Maine Senator, Susan Collins, are telling him to drop this line of attack:

The Obama campaign, meanwhile, is fighting a conservative group called the American Issues Project over a TV commercial that links Obama to Ayers. The campaign argues that the nonprofit group is violating federal laws regulating political ads by nonprofits.

The group filed a document with the Federal Election Commission last week identifying Texas billionaire Harold Simmons as the lone financier of the ad, contributing nearly $2.9 million to produce and air it. Simmons is a fundraiser for John McCain and was one of the major contributors to the Swift Boat Veterans for Truth, which aired ads in 2004 against John Kerry.

This behavior on the part of the McCain campaign might explain why Obama is being endorsed by unlikely supporters:

Democrat Barack Obama won endorsements from two unlikely newspapers — the Chicago Tribune and the Los Angeles Times.

While the Tribune is the largest daily in Obama's hometown, the publication hasn't backed a Democrat in its 161-year history. And the Times hasn't endorsed a presidential candidate since 1972, when it backed President Richard M. Nixon's re-election.

In an editorial posted on its Web site, the Tribune said the country needs a president who can lead it through a "perilous time" and restore "a common sense of national purpose." Obama is the best candidate to do that, the editorial board said.

"We have tremendous confidence in his intellectual rigor, his moral compass and his ability to make sound, thoughtful, careful decisions," the Tribune said. "He is ready."

Obama Speech Columbus, Ohio: Transcript (10-10-08)

Read the complete transcript. Excerpts below:

• There are many causes of this crisis, and it's very important that we respond using all the tools that we have. So I'm encouraged that the Treasury is considering dramatic steps to provide more capital into our financial institutions so they have money to lend to businesses large and small. This is not a time for ideology; this is a time for common sense. This is a time for the politics of pragmatism. The test of an idea can't be whether it's liberal or conservative, the test should be whether it works for the American people and for American business. (Cheers, applause.) That's what we should be focused on in the days and week ahead.
• You know, even as we face the most serious economic crisis of our time, even as you're worried about keeping your jobs or paying your bills or staying in your home, my opponent's campaign announced last week that they plan to -- I'm quoting them now -- "turn the page" on the discussion of our economy -- (boos) -- so they can spend the final weeks of this election attacking me instead. (Boos.) Senator McCain's campaign actually said, and I quote, "if we keep talking about the economic crisis, we are going to lose." (Cheers.) So in the last couple of days, we've seen a barrage of nasty insinuations and attacks. I'm sure we're see a lot more of that over the next 25 days. We know what's coming. We know what they're going to do.

• Now, I know John McCain's worried about his campaign, but that's not what I'm worrying about. I'm thinking about Americans losing their jobs and their homes and their life savings. I'm worried about folks who started off with a 401(k) and now they've got a 101(k). (Laughter.) We can't afford four more years of the same economic theories that -- that says we should give more and more to those with the most -- the billionaires and the millionaires, the CEOs -- (boos) -- and the executives, and that somehow prosperity trickles down on everybody else. We can't afford four more years of stripping away regulations so that no one in Washington is watching -- watching anybody on Wall Street.

  We've seen where that leads us and we are not going back. It is time to move forward. It is time to take a new road with a new driver. (Cheers, applause.)

• Now, I repeat, we need to do more to help innocent homebuyers. That's why I've worked on a serious proposals over the past two years to do just that. But we have to do it in a responsible way. That means making sure that we're not overpaying for these mortgages, letting the banks off the hook, rewarding the very lenders whose recklessness helped cause this crisis. It means giving taxpayers a share of the benefits when the housing market recovers. It means cracking down on predatory lenders by treating mortgage fraud like the crime that it is. (Cheers, applause.)

  We also have to make sure that if the Treasury moves forward with its plan to put more money into struggling banks, that taxpayers will be able to get their money back, and the CEOs who contributed to this crisis will not get rich at our expense. (Cheers, applause.)

• This is going to start with a nationwide program to provide affordable, fixed-rate loans to small businesses across the country. We can run this through the SBA's Disaster Loan Program, provides loans to small-business owners, and they will get the help they need to maintain their inventory and meet their payroll. But we'll also make it easier for private lenders to make small-business loans by expanding the SBA's loan guarantee program. And by temporarily eliminating fees for borrowers and lenders, we can unlock the credit that small firms need to move forward, to pay their workers, to grow their businesses.

  And just as we make lending more available, we have to relieve the tax burden on small businesses help create jobs. That's why I've proposed eliminating all capital gains taxes on investments in small businesses and startups. (Cheers, applause.) That's why I'm proposing an additional temporary business tax incentive through next year to encourage new investments, because it is time to protect the jobs we have and to create the jobs of tomorrow by unlocking the drive and the ingenuity and the innovation of the American people. That's what I intend to do when I'm president, bottom-up economic growth. (Cheers, applause.) Bottom-up economic growth.

SNL Spoofs 2nd Presidential Debate: Transcript, Video (10-9-08)

This is the latest in the series spoofing the presidential campaign by Saturday Night Live. This a Thursday special segment of 'Weekend Update.' This time they go after John McCain, Barack Obama, and Tom Brokaw, during the second president debate held Tuesday.

Read the complete transcript

CHRIS PARNELL AS TOM BROKAW: "Good evening, and welcome
to Belmont University, in Nashville, Tennessee, for the second in a series of three Presidential debates, between Senator Barack Obama of Illinois, and, Senator John McCain of Arizona. I'm Tom Brokaw, of NBC News, and I will be your moderator this evening. Tonight's debate will follow a town hall format, with questions submitted by the eighty undecided voters in our audience, as well as thousands more sent in via email. From this enormous list of penetrating, insightful, and provocative questions, I have chosen the eight least interesting. For each question, the candidates will be allowed a twenty-five second response, and, at my discretion, a three second follow-up. These are the rules both campaigns agreed upon. Our first question, is for Senator Obama, and it comes from Elizabeth Wheeler."

CASEY WILSON: "Senator Obama. Over the last few weeks, the financial crisis which began with home foreclosures has threatened to wreck the entire economy. As President, how would you deal with this?"

FRED ARMISEN AS SEN. BARACK OBAMA: "First of all, Elizabeth, thank you for that question. There is no doubt, that after eight years of failed Republican policies, policies which Senator McCain supported, this economy is a shambles. But let me tell you, and the American people, one thing I absolutely promise..."

PARNELL AS BROKAW: "Time's up. Senator McCain?"

HAMMOND AS SEN. MCCAIN: "Elizabeth, to find any solution to this economic mess, we're going to have to put aside partisanship. Something my opponent -- this character here -- isn't very good at. But I've done my whole career. You know, my friends I'm not the most popular guy in my own party. Just ask Senator Trent Lott. I took his car one time without asking, and totaled it. Just drove it into a wall, and walked away. So I'm not going to win any popularity contests among Republicans. But, Maria, when it comes to the economy, here's what I'd do. It's very simple..."

PARNELL AS BROKAW: Your time is up.

2nd Presidential Debate: Transcript (10-7-08)

Barack Obama and John McCain have the second presidential debate in Nashville, Tennessee. This time it was a townhall-style format. Read the transcript (NY Times) (see the video).

Obama:

It means that we are cracking down on CEOs and making sure that they're not getting bonuses or golden parachutes as a consequence of this package. And, in fact, we just found out that AIG, a company that got a bailout, just a week after they got help went on a $400,000 junket.

And I'll tell you what, the Treasury should demand that money back and those executives should be fired. But that's only step one. The middle-class need a rescue package. And that means tax cuts for the middle-class.

McCain:

You know that home values of retirees continues to decline and people are no longer able to afford their mortgage payments. As president of the United States, Alan, I would order the secretary of the treasury to immediately buy up the bad home loan mortgages in America and renegotiate at the new value of those homes -- at the diminished value of those homes and let people be able to make those -- be able to make those payments and stay in their homes.

Obama:

Well, Oliver, first, let me tell you what's in the rescue package for you. Right now, the credit markets are frozen up and what that means, as a practical matter, is that small businesses and some large businesses just can't get loans.

If they can't get a loan, that means that they can't make payroll. If they can't make payroll, then they may end up having to shut their doors and lay people off.

McCain:

I left my campaign and suspended it to go back to Washington to make sure that there were additional protections for the taxpayer in the form of good oversight, in the form of taxpayers being the first to be paid back when our economy recovers -- and it will recover -- and a number of other measures.

But you know, one of the real catalysts, really the match that lit this fire was Fannie Mae and Freddie Mac. I'll bet you, you may never even have heard of them before this crisis.

But you know, they're the ones that, with the encouragement of Sen. Obama and his cronies and his friends in Washington, that went out and made all these risky loans, gave them to people that could never afford to pay back.

Obama:

And so while it's true that nobody's completely innocent here, we have had over the last eight years the biggest increases in deficit spending and national debt in our history. And Sen. McCain voted for four out of five of those George Bush budgets.

So here's what I would do. I'm going to spend some money on the key issues that we've got to work on.

You know, you may have seen your health care premiums go up. We've got to reform health care to help you and your budget.

We are going to have to deal with energy because we can't keep on borrowing from the Chinese and sending money to Saudi Arabia. We are mortgaging our children's future. We've got to have a different energy plan.

We've got to invest in college affordability. So we're going to have to make some investments, but we've also got to make spending cuts. And what I've proposed, you'll hear Sen. McCain say, well, he's proposing a whole bunch of new spending, but actually I'm cutting more than I'm spending so that it will be a net spending cut.

McCain:

I first proposed a long time ago that we would have to examine every agency and every bureaucracy of government. And we're going to have to eliminate those that aren't working.

I know a lot of them that aren't working. One of them is in defense spending, because I've taken on some of the defense contractors. I saved the taxpayers $6.8 billion in a deal for an Air Force tanker that was done in a corrupt fashion.

I believe that we have to eliminate the earmarks. And sometimes those projects, not -- not the overhead projector that Sen. Obama asked for, but some of them that are really good projects, will have -- will have to be eliminated, as well.

And they'll have to undergo the same scrutiny that all projects should in competition with others.

So we're going to have to tell the American people that spending is going to have to be cut in America. And I recommend a spending freeze that -- except for defense, Veterans Affairs, and some other vital programs, we'll just have to have across-the-board freeze.

Obama Speech in North Carolina: Transcript (10-5-08)

Read the complete transcript of Barack Obama's speech in Asheville,North Carolina.

In 30 days you are going to elect the next president, and you need and deserve a president who is going to wake up every day and fight for you, and fight for the middle class, and fight to create jobs and grow our economy again -- not another president who doesn't get it. Not another President who ignores our problems. Not more of the same.

Senator McCain and his operatives are gambling that he can distract you with smears rather than talk to you about substance. They'd rather try to tear our campaign down than lift this country up. It's what you do when you're out of touch, out of ideas, and running out of time.

I want you to know that I'm going to keep on talking about the issues that matter - about the economy and health care and education and energy. I'm going to keep on standing up for hard working families. We're not going to let John McCain distract us from what we need to do to move this country forward.

Because November 4th, you and I are going to turn the page on the disastrous economic policies of George W. Bush and John McCain.

And one of the issues we must face and can't ignore is the explosion of health care costs that is crushing families and businesses across our country.

Understand, this is very personal to me.

I'm thinking today about my mother. She died of ovarian cancer at the age of 53. She fought valiantly, and endured the pain and chemotherapy with grace and good humor. But I'll never forget how she spent the final months of her life. At a time when she should have been focused on getting well, at a time when she should have been taking stock of her life and taking comfort in her family, she was lying in a hospital bed, fighting with her insurance company because they didn't want to cover her treatment. They claimed that her cancer was a pre-existing condition.

So I know something about the heartbreak caused by our health care system.

I know something about the anxiety of families hanging on by a thread as premiums have doubled, and debt piles up, and more than half - half - of all personal bankruptcies are caused in part by medical bills.

I know about the frustration of the nearly 40 percent of small business owners who can no longer afford to insure their employees - folks who work day and night, but have to lay people off, or shut their doors for good, because of rising health care costs.

I know the outrage we all feel about the 45 million Americans who don't have health insurance - kids who can't see a doctor when they're sick; parents cutting their pills in half and praying for the best; folks who wind up in the emergency room in the middle of the night because they've got nowhere else to turn.

But I also know that this is not who we are.

We are not a country where a young woman I met should have to work the night shift after a full day of college and still not be able to pay the medical bills for her sister who's ill. That's not right - and it's not who we are.

We are not a country where a man I met should have to file for bankruptcy after he had a stroke, because he faced nearly $200,000 in medical costs that he couldn't afford and his insurance company didn't cover. That's not right - and it's not who we are.

That is not who we are, and that is not who we have to be. Enough is enough - it's time for change.

Obama Speech on Senate Floor: Transcript (10-1-08)

This Obama's speech on the Senate floor arguing in favor of the bailout package. Read the complete transcript.

Now, the fact that we’re even here voting on a plan to rescue our economy from the greed and irresponsibility of Wall Street and some in Washington is an outrage.

It’s an outrage to every American who works hard, pays their taxes, is doing their best every day to make a better life for themselves and their families.

And understandably, people are frustrated and they’re angry that Wall Street’s mistakes have put their tax dollars at risk. And they should be. I’m frustrated and angry, too.

But while there’s plenty of blame to go around -- and many in Washington and Wall Street who deserve it -- all of us -- all of us have a responsibility to solve this crisis, because it affects the financial well-being of every single American.

There will be time to punish those who set this fire, but now is not the time to argue about how it got set, or did the neighbor sleep in his bed, or leave the stove on. Right now we want to put out that fire, and now’s the time for us to come together and do that.

When the House of Representatives failed to act on Monday, we saw the single largest decline in the stock market in two decades.

Over $1 trillion of wealth was lost by the time the markets closed. And it wasn’t just the wealth of a few CEOs or Wall Street executives.

The 401(k)s and retirement accounts of millions became smaller. The state pension funds of teachers and government employees lost billions upon billions of dollars. Hard-working Americans who invested their nest egg to watch it grow saw it diminish and in some cases disappear.

And while that decline was devastating, the consequences of the credit crisis that caused it will be even worse if we do not act now.

We’re in a very dangerous situation, where financial institutions across this country are afraid to lend money. And if all that meant was the failure of a few banks in New York, that would be one thing, but that’s not what it means.

What it means is, if we don’t act, it will be harder for Americans to get a mortgage for their home or loans they need to buy a car or send their children to college.

Presidential Debate Transcript (9-26-08)

Read the full transcript (NYTimes; also includes full video) of the first presidential debate held at the University of Mississippi.

LEHRER: All right, let's go back to my question. How do you all stand on the recovery plan? And talk to each other about it. We've got five minutes. We can negotiate a deal right here.

But, I mean, are you -- do you favor this plan, Senator Obama, and you, Senator McCain? Do you -- are you in favor of this plan?

OBAMA: We haven't seen the language yet. And I do think that there's constructive work being done out there. So, for the viewers who are watching, I am optimistic about the capacity of us to come together with a plan.

The question, I think, that we have to ask ourselves is, how did we get into this situation in the first place?

Two years ago, I warned that, because of the subprime lending mess, because of the lax regulation, that we were potentially going to have a problem and tried to stop some of the abuses in mortgages that were taking place at the time.

Last year, I wrote to the secretary of the Treasury to make sure that he understood the magnitude of this problem and to call on him to bring all the stakeholders together to try to deal with it.

So -- so the question, I think, that we've got to ask ourselves is, yes, we've got to solve this problem short term. And we are going to have to intervene; there's no doubt about that.

But we're also going to have to look at, how is it that we shredded so many regulations? We did not set up a 21st-century regulatory framework to deal with these problems. And that in part has to do with an economic philosophy that says that regulation is always bad.

LEHRER: Are you going to vote for the plan, Senator McCain?

MCCAIN: I -- I hope so. And I...

LEHRER: As a United States senator...

MCCAIN: Sure.

LEHRER: ... you're going to vote for the plan?

MCCAIN: Sure. But -- but let me -- let me point out, I also warned about Fannie Mae and Freddie Mac and warned about corporate greed and excess, and CEO pay, and all that. A lot of us saw this train wreck coming.

But there's also the issue of responsibility. You've mentioned President Dwight David Eisenhower. President Eisenhower, on the night before the Normandy invasion, went into his room, and he wrote out two letters.

One of them was a letter congratulating the great members of the military and allies that had conducted and succeeded in the greatest invasion in history, still to this day, and forever.

And he wrote out another letter, and that was a letter of resignation from the United States Army for the failure of the landings at Normandy.

Somehow we've lost that accountability. I've been heavily criticized because I called for the resignation of the chairman of the Securities and Exchange Commission. We've got to start also holding people accountable, and we've got to reward people who succeed.

But somehow in Washington today -- and I'm afraid on Wall Street -- greed is rewarded, excess is rewarded, and corruption -- or certainly failure to carry out our responsibility is rewarded.

As president of the United States, people are going to be held accountable in my administration. And I promise you that that will happen.

LEHRER: Do you have something directly to say, Senator Obama, to Senator McCain about what he just said?

OBAMA: Well, I think Senator McCain's absolutely right that we need more responsibility, but we need it not just when there's a crisis. I mean, we've had years in which the reigning economic ideology has been what's good for Wall Street, but not what's good for Main Street.

And there are folks out there who've been struggling before this crisis took place. And that's why it's so important, as we solve this short-term problem, that we look at some of the underlying issues that have led to wages and incomes for ordinary Americans to go down, the -- a health care system that is broken, energy policies that are not working, because, you know, 10 days ago, John said that the fundamentals of the economy are sound.

LEHRER: Say it directly to him.

OBAMA: I do not think that they are.

LEHRER: Say it directly to him.

OBAMA: Well, the -- John, 10 days ago, you said that the fundamentals of the economy are sound. And...

MCCAIN: Are you afraid I couldn't hear him?

LEHRER: I'm just determined to get you all to talk to each other. I'm going to try.

OBAMA: The -- and I just fundamentally disagree. And unless we are holding ourselves accountable day in, day out, not just when there's a crisis for folks who have power and influence and can hire lobbyists, but for the nurse, the teacher, the police officer, who, frankly, at the end of each month, they've got a little financial crisis going on.

They're having to take out extra debt just to make their mortgage payments. We haven't been paying attention to them. And if you look at our tax policies, it's a classic example.

LEHRER: So, Senator McCain, do you agree with what Senator Obama just said? And, if you don't, tell him what you disagree with.

MCCAIN: No, I -- look, we've got to fix the system. We've got fundamental problems in the system. And Main Street is paying a penalty for the excesses and greed in Washington, D.C., and on Wall Street.

So there's no doubt that we have a long way to go. And, obviously, stricter interpretation and consolidation of the various regulatory agencies that weren't doing their job, that has brought on this crisis.

But I have a fundamental belief in the goodness and strength of the American worker. And the American worker is the most productive, the most innovative. America is still the greatest producer, exporter and importer.

But we've got to get through these times, but I have a fundamental belief in the United States of America. And I still believe, under the right leadership, our best days are ahead of us.

- Related Links:

• Poll Results for First Presidential Debate
• Poll: Obama won presidential debate - UPI.com
• CBS Poll: Obama Boosted Most By Debate
• Who Won The Debate? Reviews Go To Obama
• Why Voters Thought Obama Won (And Why the Pundits Didn't Get It)