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Obamanomics 101 - The hole is gettting deeper and the comparison to Reagan's administration is getting further and further away. No jobs, no recovery and massive debt. Sounds like Europe to me. So much for Socialism. Austerity here we come.
Review & Outlook: The Democratic Fisc - WSJ.com
Seeded on Mon Jul 26, 2010 2:52 PM EDT
Article Source: Wall Street Journal- Enjoy this article? Help vote it up the 'Vine.
- Public Discussion (3)
If you listened to Gheitner over the weekend you would have thought we were sitting pretty. He has lost all credibility with me with his inability to admit his failures and the failures of this Administration. Fed Chairman Ben Bernanke told the Senate banking committee that employment growth will be weaker than previously expected and that:
"the economic outlook remains unusually uncertain."
For the Obama Administration to point anywhere but within their own policies is disingenuous at best. The stimulus did not work. The debt is huge. Tax breaks are going away. The simple result. No jobs....
Is this not the definition of a double dip recession? Your comments would be very much appreciated. CoH applies.
#1 - Mon Jul 26, 2010 3:17 PM EDTThis administration has been nibbling all around the problem but doesn't know how or refuses to address the heart of the matter. We've lost job overseas but that didn't happen overnight, it's been happening for years, and it didn't collapse the economy like I see people here claim. The housing industry sure as hell wasn't outsourced overseas,though we have been importing people to build them. Until this admin. opens it's eyes and sees that there's a smoldering crater where a thriving industry used to be that employed millions and created personal wealth, a thriving consumer base, a sense of belonging and yes higher taxes reciepts they will continue to miss the mark.
- 1 vote
#2 - Mon Jul 26, 2010 3:51 PM EDTWhat's astonishing to me is the denial of Gheitner. Time after time he defends his decision making and you can almost see him working through it to avoid answering whichever question is asked of .
I'd hate to call him a liar but I don't see it any other way at this point. With Bernanke coming out with the uncertainty comment it just makes me feel like we are being set up for a pitch that says, "The Stimulus is working and we just need to do more of it!"
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