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Obama Takes on Disgruntled Wall Streeters

Says 'big chunk of country thinks I've been too soft on you'

By Kevin Spak,  Newser Staff

Posted Sep 20, 2010 1:44 PM CDT

(Newser) – President Obama insisted he was not “anti-business” today, as he was confronted with several angry businesspeople in a town hall-style event on CNBC. “I have been amused over the last couple of years by this sense of me beating up on Wall Street,” Obama said. “Most folks on Main Street feel like they got beat up on. There's a big chunk of the country that thinks I've been too soft on Wall Street.”

Asked if he would consider changing his economic team, particularly Larry Summers or Tim Geithner, Obama evaded, replying, “I have not made any decisions about personnel.” Asked by Rick Santelli—he of the original tea party tirade—how long the country could deficit spend, Obama replied that he’d like to reduce it by eliminating the Bush tax cuts for the rich. He also added that tea partiers needed to put forward real ideas for spending cuts. “We're not going to solve this problem by just yelling at each other.”

President Barack Obama is displayed on a large video screen at the Newseum in Washington, Monday, Sept. 20, 2010, where he discussed jobs and the economy.
President Barack Obama is displayed on a large video screen at the Newseum in Washington, Monday, Sept. 20, 2010, where he discussed jobs and the economy.   (AP Photo/J. Scott Applewhite)
President Obama answers questions on jobs and the economy during a town hall-style gathering hosted by CNBC, Monday, Sept. 20, 2010, at the Newseum in Washington.
President Obama answers questions on jobs and the economy during a town hall-style gathering hosted by CNBC, Monday, Sept. 20, 2010, at the Newseum in Washington.   (AP Photo/J. Scott Applewhite)
President Barack Obama is displayed on a video monitor as he discusses jobs and the economy during a town hall-style gathering hosted by CNBC, Monday, Sept. 20, 2010.
President Barack Obama is displayed on a video monitor as he discusses jobs and the economy during a town hall-style gathering hosted by CNBC, Monday, Sept. 20, 2010.   (AP Photo/J. Scott Applewhite)
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COMMENTS
Showing 3 of 54 comments
Rocket448
Sep 21, 2010 1:45 AM CDT
Has anyone else noticed that we haven't seen any big national projects in quite awhile? The 30s was a time for hydroelectric power and rural electrification. The forties, obviously, was factory modernization and the growth of heavy industry. In the 50s interstate highways were built. In the 60s it was spaceflight and the race to the moon. The 70s? 80s? 90s? 00s? other than war here and war there, big public projects are missing from the scene. There's been no national drive to free us from dependence on petroleum. The energy grid is obsolete and air traffic control is still in the 80s. The US concentrates more wealth than anywhere else in the world yet we literally have nothing to show for it. Other than a watered-down half-baked reform of health insurance - nothing of any use to a person who needs to be healed or cured - any real big signature project Obama might propose will be stopped in its tracks. People get all red in the face over what they call excessive taxation while at the same time incredible wealth is being concentrated by a relative handful of individuals who have no notion of leaving any legacy for the future. I frankly can't understand why too much isn't enough, but its not up to me to judge. I'm wondering, though, if our grandchildren will damn us or bless us, and if we've used up resources without making provision for the future, I don't think there's any doubt how we'll be judged.
Ucantusethatname
Sep 21, 2010 12:00 AM CDT
Barry may be amused, but the nation is not. His dumb economic policies are bankrupting the treasury. Yelling won't stop the problem, but neither will huge doses of arrogance, inexperience, and narcissism.
bananana
Sep 20, 2010 10:08 PM CDT
One more thing, just because people have such short memories: http://www.youtube.com/watch?v=2_U6WX98buk
 

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