President Obama told Americans to take a look at investing in the stock market yesterday afternoon, a remarkable utterance for an American president, especially as the Dow Jones Industrial Average proceeds on its course Southward.
"What you're now seeing is profit and earning ratios are starting to get to the point where buying stocks is a potentially good deal if you've got a long-term perspective on it," the president said on a day that trading continued to hover under 7,000.
The president predicted that Americans' consumer confidence would improve as they see the stimulus bill "taking root."
So in my opinion if you voted for and trust President Obama go and buy stocks and help boost our economy.... As for me, I voted for the other guy....
The Senate voted overwhelmingly to preserve thousands of earmarks in a $410 billion spending bill on Tuesday, brushing aside Sen. John McCain's claim that President Barack Obama and Congress are merely conducting business as usual in a time of economic hardship.
McCain's attempt to strip out an estimated 8,500 earmarks failed on a vote of 63-32. The Arizona senator's proposal also would have cut roughly $32 billion from the measure and kept spending at last year's levels in several federal agencies.
While Republican opposition in the House focused more on the bill's overall spending, McCain and allies turned the Senate spotlight squarely on earmarks.
"How does anyone justify some of these earmarks: $1.7 million for pig odor research in Iowa; $2 million 'for the promotion of astronomy' in Hawaii; $6.6 million for termite research in New Orleans; $2.1 million for the Center for Grape Genetics in New York," he said.
He also noted the legislation includes 14 earmarks requested by lawmakers for projects sought by PMA Group, a lobbying company at the center of a federal corruption investigation.