1. Major problem right now is nobody is spending, even as Feds and TARP pumpd up money supply. No private company will hire and produce supply where there is no demand - they will sit and use inventory down to zero and stay in cash.lol
-barak is breaking another promise -to cut the deficit
-get ready for it!!! spend spend spend
-but in his eloquent speechifying talent he says <<<<<.....recov ery efforts will trump deficit concerns when he takes office in January......>>> >>>
-he's workin hard at lowering expections ie, setting the stage to let people down on his promises preinaugural style -and aggressively
"Obama: Economic rescue will trump deficit fight
BETH FOUHY and DAVID ESPO, Associated Press Writers Beth Fouhy And David Espo, Associated Press Writers 1 hr 20 mins ago
CHICAGO The economy growing weaker, President-elect Barack Obama said Tuesday that recovery efforts will trump deficit concerns when he takes office in January.
The president-elect set no goals for reducing the federal deficit now in record territory and headed ever higher an obvious contrast to Monday's announcement that he hopes to create a recession-busting 2.5 million jobs by 2010.
Obama's comments came at his second news conference in as many days, an unusual pre-inaugural burst of activity that he said reflected "the extraordinary circumstances" he will inherit on Jan. 20.
So government will have to spend or we are headed to a depression, and things will be 4 times worse than they are now.
2. You will only know Obama's true fiscal philosophy when the economy recovers in 2 years. From that point, if he does not balance the budget and attack the debt then - he will be history in 2012.