yego.me
💡 Stop wasting time. Read Youtube instead of watch. Download Chrome Extension

Passing Obama’s Stimulus Bill | Obama: The Price of Hope


2m read
·Nov 11, 2024

NARRATOR: Obama needs just two Republican senators to defy their party. He turns to the veteran leader of the Senate Democrats. None of the Republicans who wanted to do something to help wanted to be the 60th vote. So I had to get 61 votes on everything. And it was very hard. The only ones I had any hope of getting—Specter from Pennsylvania, and then I had the two senators from Maine.

NARRATOR: Maine Senator Susan Collins, a Republican Reid identifies as vulnerable, is invited to the Oval Office.

SUSAN COLLINS (VOICEOVER): I was shocked when I walked in expecting to see the economic advisers, other staff taking notes, and instead, it was just the President and me. I told him I thought the package was too big. He told me that his economists were telling him that a smaller package would not do the trick and would not boost the economy sufficiently.

NARRATOR: Senator Collins agrees to meet behind closed doors with a group of 17 other senators. When senators from both parties meet outside the control of the leadership, it's called a gang. This gang of 18 came together with the primary focus of wanting to reduce the cost by at least $100 billion.

NARRATOR: Obama reluctantly agrees to the cuts because it looks as though this will buy him the votes he needs. But the Republican leadership leans hard on Republican members of the gang of 18.

SUSAN COLLINS (VOICEOVER): Although we had a number of Republicans who joined those first few meetings, gradually, the numbers diminished greatly. I didn't know if we could get this done. And I told the President that. I had to wait till his helicopter landed to give him the bad news, saying, I'm not sure I can get this done. I received this phone call from Harry Reid to come over to his office. And I really debated whether or not to go. I went into the room, and the room was already filled with Democratic leadership.

NARRATOR: Collins from Maine objects to a $16 billion program for school construction. I knew that that would create huge opposition on my side of the aisle, because we'd be redefining the federal role in education. And then the conversation kind of shifted over to health clinics. And there was a suggestion made that we could take some of those resources and put them into constructing community health clinics, even in the state of Maine. And she lit up and showed some real interest.

On this vote, the yeas are 61. The nays are 36. 3/5 of the senators duly chosen and sworn having voted in the affirmative, the motion is agreed to.

More Articles

View All
Warren Buffett: 9 Mistakes Every Investor Makes
Warren Buffett is without a doubt the most well-known and highly respected investor on the planet. He bought his first stock at just 11 years old, and now at 91 years old, that means he has been investing for 80 years. During that time, Buffett has made h…
Will Berkshire Hathaway Stock Crash Without Warren Buffett? (w/ @InvestingwithTom)
[Music] Hey guys, welcome back to the channel. Uh, today we are continuing with the new money advent calendar. We’re going strong, and I’ve got another great guest on the channel for today. We have Tom from Investing with Tom. How you doing, buddy? Prett…
2013 Berkshire Hathaway Annual Meeting (Full Version)
Morning kind of all worn out. We’re going to, well first of all, I really want to thank Brad Underwood. He puts the movie together every year, does a terrific job. [Applause] Andy Hayward and Amy are responsible for the cartoon. They also produce a Secret…
Mentally WEAK People Share These 15 Signs
Do you have mentally weak friends? What if you’re a mentally weak friend? Well, let’s find out, shall we? Here are 15 signs. Your mentally weak first step. You internalize any negative statements other people make. They define who you are and how you fee…
Walking away from marriage, children, and other stuff we're supposed to have
You want someone to grow old with? You want someone to be a mother for your children, assuming you want children? And if you don’t want children, well, you probably will, and if you don’t, you’re either deluded or immature. And you might say, “Well no, th…
Four factors of production | AP Microeconomics | Khan Academy
An idea that will keep coming up as you study economics is the idea of the four factors of production, which are usually listed as land, labor, capital, and entrepreneurship. The idea here is if you want to produce anything, so let’s just say this circle …