Take Aways From President Obama's First Prime Time Press Conference

A BUZZFLASH NEWS ALERT
by Christine Bowman

Here's the full transcript, courtesy of CBS. And here are the parts that most struck me:

From President Obama's Opening Remarks: "... at this particular moment, with the private sector so weakened by this recession, the federal government is the only entity left with the resources to jolt our economy back into life. It is only government that can break the vicious cycle where lost jobs lead to people spending less money which leads to even more layoffs. And breaking that cycle is exactly what the plan that's moving through Congress is designed to do.

^{(Charles Dharapak/AP Photo)}

... I can't tell you for sure that everything in this plan will work ... but I can tell you with complete confidence that a failure to act will only deepen this crisis as well as the pain felt by millions of Americans.

We find ourselves in a rare moment where the citizens of our country and all countries are watching and waiting for us to lead. It's a responsibility that ... we must accept. ... And it is our duty ... I have full faith and confidence that we can do it. But we're going to have to work together. "

To Jennifer Loven, AP: "... what I'm trying to underscore is ... that this is not your ordinary run-of-the-mill recession. We are going through the worst economic crisis since the Great Depression. We've lost now 3.6 million jobs, but what's perhaps even more disturbing is that almost half of that job loss has taken place over the last three months, which means that the problems are accelerating instead of getting better. ... Step number one: We have to pass an economic recovery and reinvestment plan. "

To Chip Reid, CBS: "I can't afford to see Congress play the usual political games. ... What we have to do right now is deliver for the American people. ... my bottom line when it comes to the recovery package is, send me a bill that creates or saves 4 million jobs. ... I suspect that the package that emerges is not going to be a hundred percent of what I want. But my bottom line is, are we creating 4 million jobs, and are we laying the foundation for long-term economic growth."

To Chuck Todd, NBC: "Our immediate job is to stop the downward spiral, and that means putting money into consumers' pockets, it means loosening up credit, it means putting forward investments that not only employ people immediately but also lay the groundwork for long-term economic growth. ... Now, what we are going to also have to do is to make sure that as soon as the economy stabilizes, investment begins again; we're no longer contracting but we're growing; that our mid-term and long-term budget is dealt with."

To Julianna Goldman/Bloomberg News: "We also have to deal with the housing issue in a clear and consistent way. I don't want to preempt my Secretary of the Treasury ... But my instruction to him has been, let's get this right, let's create a template in which we're restoring market confidence. And the reason that's so important is because we don't know yet whether we're going to need additional money or how much additional money we'll need until we've seen how successful we are at restoring a sense of confidence in the marketplace, that the federal government and the Federal Reserve Bank and the FDIC, working in concert, know what they're doing. That can make a big difference in terms of whether or not we attract private capital back into the marketplace."

To Jake Tapper, ABC: [Re how the American people can gauge whether or not the programs are working] "... my initial measure of success is creating or saving 4 million jobs ... because if people are working, then they've got enough confidence to make purchases, to make investments. Businesses start seeing that consumers are out there with a little more confidence, and they start making investments, which means they start hiring workers. So step number one, job creation. 

Step number two: Are we seeing the credit markets operate effectively?

Step number three is going to be housing:  Have we stabilized the housing market? Now, the federal government doesn't have complete control over that, but if our plan is effective, working with the Federal Reserve Bank, working with the FDIC, I think what we can do is stem the rate of foreclosure and we can start stabilizing housing values over time.

And the ... biggest measure of success is whether we stop contracting and shedding jobs, and we start growing again.

... my hope is that after a difficult year -- and this year is going to be a difficult year -- that businesses start investing again, they start making decisions that ... in fact there's money to be made out there, customers or consumers start feeling that their jobs are stable and safe, and they start making purchases again. And if we get things right, then starting next year we can start seeing some significant improvement."

To Ed Henry, CNN: [Re the Pentagon policy that bans media coverage of the flag-draped coffins from coming in to Dover Air Force Base] "... we are in the process of reviewing those policies ...

With respect to Afghanistan ... effectively the national government seems very detached from what's going on in the surrounding community. ... So we are undergoing a thorough-going review. ... The bottom line, though ... We cannot have those safe havens in that region."

To Helene Cooper,  NYT: [Re assuring accountability in the next bank bailout] "... one of my bottom lines is whether or not credit is flowing to the people who need it. Is it flowing to ... businesses, large and small? Is it flowing to consumers? Are they able to operate in ways that translate into jobs and economic growth on Main Street?"

To Michael Fletcher/WaPo: [On steroids in baseball] "... the thing I'm probably most concerned about is the message that it sends to our kids. ... your kids, hopefully, are watching and saying ... that when you try to take shortcuts, you may end up tarnishing your entire career, and that your integrity is not worth it. That's the message I hope is communicated. "

To Helen Thomas, Hearst: "With respect to nuclear weapons ... What I know is this: that if we see a nuclear arms race in a region as volatile as the Middle East, everybody will be in danger. And one of my goals is to prevent nuclear proliferation generally."

To Sam Stein, HuffPo: [Re Leahy's proposed truth and reconciliation committee to investigate the misdeeds of the Bush administration] "I will take a look at Senator Leahy's proposal ..."

To Mora Liasson, NPR: [On bipartisanship] "... there was consultation. There will continue to be consultation. ...

Now, just in terms of the historic record here, the Republicans were brought in early and were consulted. And you'll remember that when we initially introduced our framework, they were pleasantly surprised and complimentary about the tax cuts that were presented in that framework. Those tax cuts are still in there. I mean, I suppose what I could have done is started off with no tax cuts, knowing that I was going to want some, and then let them take credit for all of them. And maybe that's the lesson I learned."

A BUZZFLASH NEWS ALERT

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