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Obama And The Economy

January 10th, 2009 20:39 pm | by Ed |

Trying to get caught up on my "breaking news" emails, I ran into one that I just had to comment on.

In a CBS news story "President-elect Barack Obama (I'm sorry but "Barack" sounds more like a noise you make when you're puking your guts out than the name of a president.) warned of dire and lasting consequences if Congress doesn't pump unprecedented dollars into the national economy"

Now if that isn't one of the biggest "DUH!" statements I've heard in a LONG time I don't know what is. I mean, the emergency light has been flashing on the economy for the better part of two years now. For that matter, isn't that what the last $700 Billion plus bailout package was supposed to do? Hrm.. maybe if they'd give the money to the Joe The Working Stiff of the country it'd produce a lot more results. I guess we'll never know. I don't doubt that the lion's share of that money will, just like last time, go to those who don't need it nearly as much as Joe Average Citizen.

But then this is the same crowd that insists on calling this meltdown a "recession" which is total BS. If you compare the situation we're in now with that of 1929 through the thirties, it's easy to see that this is nothing less than a full out depression. Fifty years from now they'll be calling it "The Second Great Depression".

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