President Obama responds to President Obama's jobs plan.
Freedomworks Taxpayer March on Washington D.C. 9 12 09 - September 12 2009.
The Taxpayer March on Washington (also known as the 9/12 Tea Party) was a Tea Party protest march from Freedom Plaza to the United States Capitol that was held on September 12, 2009, in Washington, D.C. The event coincided with other similar protests organized in various cities across the nation. The protesters rallied against what they consider big government, the dismantling of free market capitalism, abortion, and President Barack Obama's proposals on health care reform, taxation, and federal spending, among other issues.
Organizers of the event included the 9-12 Project, FreedomWorks, the National Taxpayers Union, The Heartland Institute, Americans for Tax Reform, Tea Party Patriots, and ResistNet. The event was also promoted by Fox News commentator Glenn Beck as a symbol of what he called "national unity" following the eight-year anniversary of the September 11 attacks. The march is the largest gathering of fiscal conservatives ever held in Washington, D.C., as well as the largest demonstration against President Obama's administration to date.
Though many of the signs were close to the original Tea Party message of "Taxed Enough Already," such as "Stop Obama's Spending Spree," some of the handwritten signs carried by protesters included statements such as "Liar Liar Pants on Fire!" and "Hey Obamacare! Hands off my body". Other signs promoted Obama citizenship conspiracy theories, depicted the Obama "Joker" image, and compared Obama to Adolf Hitler. One protester commented that many signs were "expressing concerns about the tax burdens to be carried by "our grandchildren" and other signs he didn't feel were appropriate to repeat". Gene Healy, author and vice president at the libertarian Cato Institute, expressed the opinion that the signs generally focused on opposition to government bailouts, Obama's proposal on health care reform, and the appointment of presidential "czars".
Among the speakers at the rally were former House Majority Leader Dick Armey, chairman of FreedomWorks, and a small number of congressional Republicans including Representative Mike Pence, chairman of the House Republican Conference, Representative Tom Price of Georgia, Senator Jim DeMint of South Carolina, and Representative Marsha Blackburn of Tennessee. Pence said that "Americans want health care reform, but they don't want government takeover".
On February 17, 2009, Obama signed the American Recovery and Reinvestment Act of 2009, a $787 billion economic stimulus package aimed at helping the economy recover from the deepening worldwide recession. The act includes increased federal spending for health care, infrastructure, education, various tax breaks and incentives, and direct assistance to individuals, which is being distributed over the course of several years.
President Barack Obama signs the ARRA into law on February 17, 2009 in Denver, Colorado. Vice President Joe Biden stands behind him.
In March, Obama's Treasury Secretary, Timothy Geithner, took further steps to manage the financial crisis, including introducing the Public-Private Investment Program for Legacy Assets, which contains provisions for buying up to $2 trillion in depreciated real estate assets.
Obama intervened in the troubled automotive industry in March 2009, renewing loans for General Motors and Chrysler to continue operations while reorganizing. Over the following months the White House set terms for both firms' bankruptcies, including the sale of Chrysler to Italian automaker Fiat and a reorganization of GM giving the U.S. government a temporary 60% equity stake in the company, with the Canadian government shouldering a 12% stake. In June 2009, dissatisfied with the pace of economic stimulus, Obama called on his cabinet to accelerate the investment. He signed into law the Car Allowance Rebate System, known colloquially as "Cash for Clunkers", that had mixed results.
The Congressional Budget Office and a broad range of economists credit Obama's stimulus plan for economic growth. The CBO released a report stating that the stimulus bill increased employment by 1--2.1 million while conceding that "It is impossible to determine how many of the reported jobs would have existed in the absence of the stimulus package."Although an April 2010 survey of members of the National Association for Business Economics showed an increase in job creation (over a similar January survey) for the first time in two years, 73% of the 68 respondents believed that the stimulus bill has had no impact on employment.