OAK BLUFFS, Mass. – President Barack Obama announced Tuesday he wants to keep Ben Bernanke on as Fed chairman, saying he shepherded America through the worst economic crisis since the Great Depression.
“Ben approached a financial system on the verge of collapse with calm and wisdom; with bold action and out-of-the-box thinking that has helped put the brakes on our economic freefall,” said Obama, with Bernanke standing by his side. “Almost none of the decisions he or any of us made have been easy.”
Obama made the announcement while on vacation on the island of Martha’s Vineyard off the coast of Massachusetts after aides said initially that the president intended a news-free week there. Both he and Bernanke sported the open-collar look.
Bernanke, 55, is credited with turning the economy away from its deepest and longest recession since the 1930s. Now he faces the challenge of meeting White House expectations to chart the full economic recovery considered critical to Obama’s legacy.
In sticking with a Republican for the nation’s top banker, the Democratic president was aiming for stability at a time of continuing, though easing, crisis. The move was designed to reassure the U.S. financial sector as well as foreign central banks that the Obama administration isn’t changing course on its largely well-received approaches to the financial meltdown and overall monetary policy.
The announcement also came nearly concurrently with a piece of bad economic news. Obama interrupted his vacation to telegraph his decision just ahead of a White House report that gave more bleak assessments of the nation’s deficit picture.
To borrow a quote from the Obama campaign…”That’s not change, it’s more of the same”.
#20
Which is why no Republican voted for either Obama’s budget or the stupid stimulus package. BUT as you know
“WE are the CHANGE, WE’VE been waiting for…” according to Obama.
Nancy Pelosi stuck us with a $3.5 TRILLION budget and said “Decisions are liberating, by deciding to support this budget, members are freeing themselves from past mistakes and stale assumptions. They’re unleashing the possibilities of the future.”
Do you feel 9.7% unemployment is liberating? My legislature here in CA is liberating me to the tune of 11.9% unemployment (though the real number is much higher because it doesn’t take into account all the consultants etc.) .
What people have forgotten is that leftist policies never have worked no matter how the message is delivered. This stuff NEVER works, and you just have to wait out the pain until the adults get back into power.
Make no mistake. There is a difference between Bush hires and Bush policies. The shallow would like to point out the similarities to deflect criticism. Smart people like me know better.
I have no problem Obama hiring the best persons for the job. Unlike President Cheney and his special needs secretary, president Obama will choose from those who will carry out his policies.
McCullough,
You changed the intro without mentioning it. That is deceitful.
Yes, One of the editors caught that I accidentally linked to an older article. I changed it before you posted…so how is that deceitful?
You gotta love this. The NDP has done all it could do for the GOP. With no fees. If only the Libertarians could get so lucky.
#16 Gee, I though Obama wanted change. I guess not.
You look funny trying to spin this one.
#18 Forgive him, he’s quite detached from reality.
#20 Obama kept doing more bailouts & kept the people who made it possible. That’s your change, deal with it.
#22 And nobody knows more about shallowness than you. After all, your hhelpless defense of your master leader couldn’t be more shallow. Just blind defense, no substance.
#23 I’d call deceitful getting into office announcing “change” and keeping a lot of Dumbya’s poilicy makers & adding sahdy Dems.
#24 Don’t be so hard on him, he’s just conFused.
capitalism- if you are so wealthy and have so much to do with your wealth you wouldn’t be typing comments on a f**king blog you stupid c**t! you’ve got the lying part down. couldn’t pass the bar?
#26 I was clear in pointing out that what matters is policy and execution. This important mention evidently went over your head, amigo.
Your fascination and defense of the horrible Cheney presidency and his bitch indicate you might have been sexually abused as a child by a Laurel and Hardy similar looking couple.
#28 Wait a minute, I’m crying foul ’cause Dumbya’s FED bozo was re-selected by Obama and I’m defending Dumbya? Boy, you’re way more dilusional than I thought.
You do need a change…of meds.
#29 Listen to me, son.
It’s not your fault.
It’s not your fault.
It’s not your fault.
I’m still looking for the powers enumerated in the Constitution for the Federal Reserve.
#30 I know it’s not your fault. That doesn’t mean you should seek help for that fixation.
Yeah… let the Jew keep destroying the country.
We’re all gonna die.
#31, through #34
The collective intelligence of these posts once again demonstrates why the right wing nuts lost the last two elections and will again lose the next few.
#35 Well, you have been owned by the wing nuts. It is really funny seeing you rationalize that Dumbya FED policies are good are your beloved leader is reassuring them one more time.
Do you want that bail-out with wine?
Who thinks this appointment will shut-up these dopes who keep calling Obama a socialist?
#37 No. Neither will those who call Obama “change”
Change? What a bunch of lying, crooked a-holes. If they had any decency the whole rat’s nest would sign themselves into Gitmo for rehab.