Obama on the Economy: 'The Situation Is Getting Worse'

think, analyze, study and speak guys... Obama is not the only responsible...

Just a simple thought that United States has a number of intelligent professionals from the sectors like economics, accounting, share market and finance... and it worries to all of us that collectively they are not able to solve the economic issue. I always search for such experts in this sector and only one site helped me to find it

"Transparency" is the keynote of the
Obama presidency. Hell, I could see
through this guy from the start. Does
this make me gifted? No, Scatman
Carruthers said "lots o' people got
de Shining".....53% of the elecorate,
in this case.

"Seems that this would stimulate the economy quicker and probably not cost more than the $700 billion given to Wall Street and the banks"

There are about 146M taxpayers. At $100K each, that would be about $15T.

The government doesnt have $15T. Printing that much money would cause inflation. Banks would paid back with money that was worthless than that which they lent so their stocks would crash. Consumer prices would rise as inflated paper entered the economy all in the same quarter.

It sort of seems like the whole approach being adopted is like advocating stimulants for someone who has been up for three days. At some point you have to be allowed to rest naturally or the crash is worse.

There is really no quick fix to this mess. Here's an idea that I think could be quicker than any so far. I've submitted this to the transition team but probably got ignored.
The government should ask every taxpayer to send them their mortgage, credit card, car loan statements etc.
They would then pay those loans up to $100,000. per taxpayer. This could get people shopping and buying again and the government would know where the money went. If anyone has less debt than the 100K they would recieve a check for the balance.
As of now I don't know many who are house, or auto shopping. Seems that this would stimulate the economy quicker and probably not cost more than the $700 billion given to Wall Street and the banks, who are not going to explain what they did with it.
I've heard that Congress didn't get a vote on that package. Imagine Bush doing that.......

Don

"and now that the Dems have the gavel, suddenly we are concerned with spending and budgets? ROLFLMAO!!"
------------------------------------
David Williams ,

*******NEWS FLASH*******

The "Gavel" has been under Democratic control for the past two years!!!!

Only a total idiot who does not understand that CONGRESS controls the money runs around blaming just the Republicans. Pelosi/Reid along with their buddies Barney Frank, Chris Dodd, Charlie Rangel...etc have taken a bad sistuation and created a disaster out of it.

Plenty of blame on both sides. Liberals need get off this idea that Bush created this mess all on his own. Realize that Obama has one of the main proponents of the policies that led to this in his proposed gruop of advisors.

Larry Summers was the Sec. of the Treasury at the end of the Clinton Adminstration and supported the deregulation of the derivatives market.

The real truth is that Democrats consistently block efforts by republicans since 2000 to put greater regulation on Freddie & Fannie. Barney Frank was one of the biggest opponents to those efforts.

Now, we all are depending on those who created this mess and blocked efforts to avoid it to actually fix it. As with most problems in life, you cannot create a viable solution to a problem if you can't describe how the problem came about.

I don't have no respect for Pelosi. She is the worse Speaker of the House.

"Now Obama wants to infuse the economy from the bottom up-- the only way liquidity hits the economy..."

You had better go wake up the Messiah to your research fast then because according to the headlines he is planning on giving 'Huge breaks' to business.

And BTW the economy increased rapidly after Bush's tax cuts away, so you have to explain that away.

Obama never had a private sector job. What do you think he knows about the economy?

Bush squandered America's money away. He will be remembered as the Ponzi President.

Now Obama wants to infuse the economy from the bottom up-- the only way liquidity hits the economy and brain dead fiscal conservatives are having a problem with his tax cut?

As for Congress, didn't they just vote for a salary increase for themselves?

And the working poor cannot receive a long overdue tax break while the wealthy under Bush will continue to have their tax breaks??
It is a miracle America has remained an economic superpower for so long with limited foresight.

God help Obama get his plan approved by jealous outdated minds that sit on Capitol Hill. Throw the bums out!

Pray people, pray. He will need it and we need prayer, too.

Hey Bertie; Please that you are not relying on Fox news for your info?

Current reality is this. Things ain't good.

“Another 2.5 million jobs will be lost in 2009,” says John Stapleford, an economist with Economy.com. That is on top of 1.9 million jobs lost in the first 11 months of 2008.

Stapleford he projects the jobless rate to peak at 8.7 percent by the end of the year, up from 6.7 percent currently, while some experts predict the rate could rise to 9 percent or more.

Do we blame Obama on everything after January 20th? or does it all fall back on "you know who"?

Kat,

You can go to the Bureau of Labor statistics web site, bls dot gov, and verify that more people are employed under Bush than at any point in history.

Hey Bertie- Are you watching too much Hannity and Colmes?

Contrary to those guys and your claims, the unemployment has increased under Bush statistically speaking. The unemployment rate since 2001 of 5.2% has been lower than the average rate for the 90's a decade, but higher than the last 4 years of the Clinton administration which averaged in the 4% range. This was after Clinton inherited a 7.5% unemployment from #41, but which declined each year to 4.2% in 1999. But then the Bush administration has been pretty good at manipulating information and data for its own ends.

Hey BertieW, no kidding !!

Just look at what Bush has done for Mumbai! It's been an absolute boon for those folks. Employment souring 30% to 40%

I guess it is just how you look at things huh?

I'll bet you haven't worked recently for either Merryl Lynch, Goldman Sachs, Bear Sterns or country Wide?

Please look one of those folks in the eye and sell them on your Bush employment denial.

"Thanks for making my point about the denial. ie.. more people have lost jobs under Bush, then any other prseident in history. "

Just say it to yourself: more people- even now- are employed under Bush than under any Democrat.

I know you like to form fact free opinions, but you cant claim ignorance anymore. Go to the bls gov site and you can verify for yourself.

While you are at it you can read up on wiretap authorization and how the FBI investigates felony bribery. Its a big world out there for you.

I just love it!

In eight years we watched while the national debt was increased to 9 trillion dollars.

and now that the Dems have the gavel, suddenly we are concerned with spending and budgets? ROLFLMAO!!

Rep. John Boehner concerned about the debt burden being placed on our children and grandchildren? Well, good for him! And here I thought I couldn't say anything nice about a Republican politician anymore! But is he willing to help end the Iraq war and the Bush tax cuts for the rich? Just wondering...

Any you still cant admit that more people are employed under Bush than at any point in US history.

-----
Thanks for making my point about the denial. ie.. more people have lost jobs under Bush, then any other prseident in history.

Obama is talking 600,000 more federal jobs. The agriculture dept has a $40billion budget and 100,000 people. Seems like a lot to me but I don''t work for them. I''m sure there is plenty of waste there. Now an additional 600,000 workers that you know will be unionized and will never be laid off. Another entitlement we will be paying for for many years. And how far will $500 go when there talking about $175 per cow for methane tax and raising gas prices 10cents per gallon. The states will be raising taxes on everything so in the end the $500 will be used to pay the increased taxes planned by the Dems. Never cut a budget when you can add more entitlements to it. Granted they can''t cut spending now until the economy is back but they''ll never look at waste in govt unless a group of fiscal conservatives (not those of the Bush years) get control of the govt.

Road construction jobs are going to Pelosi, Reid & Dodd districts.....So the rest of the states are out of luck. What I am disappointed in is that there is NOT ONE single mention of reducing pork spending.....As we have already seen BAIL OUTS don't work and OBAMA's plan is just another bail out program.... I want OBAMA to quit scaring the American people that the economy is going to get worst. Everyone that I have talked to from Texas to Florida to Colorado says things have slowed down to a normal rate and no big deal... unless you are a greedy UAW worker...