Posted on 01/10/2009 12:31:14 PM PST by FocusNexus
President-elect Barack Obama warned yesterday that the nation is sliding into the deepest economic crisis since World War II and urged Congress to pass a stimulus package quickly or risk an entire generation of Americans losing any hope of prosperity.
"For every day we wait or point fingers or drag our feet, more Americans will lose their jobs. More families will lose their savings. More dreams will be deferred and denied," he told an audience at George Mason University in Fairfax County. "And our nation will sink deeper into a crisis that, at some point, we may not be able to reverse."
(Excerpt) Read more at washingtonpost.com ...
Related article:
FDR's policies prolonged Depression by 7 years, UCLA economists calculate.
Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt.
After scrutinizing Roosevelt's record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years.
"Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump," said Ohanian, vice chair of UCLA's Department of Economics. "We found that a relapse isn't likely unless lawmakers gum up a recovery with ill-conceived stimulus policies."
That’s what the lefties do best; scare.
My understanding is that PEBO’s “tax cuts” is really welfare. He is giving the money to those who didn’t even pay taxes...
BTTT.
I call BS to the increase in the passed Congress’ Minimum Wages which increased July 2008 and will increase again July 2009.
I call BS to Obama’s/Congress’ stimulus plan. if he/they really wanted to stimulate the economy WITHOUT a power grab he/they would be doing these things:
1. Decrease the Corporate Tax Rate equal to Ireland's/Poland's.
2. Decrease Capital Gains Tax to 10%
3. Decrease Taxes on Savings Account
4. Personal Income Taxes:
4a. For one year extreme decrease in marginal rates
4b. Slowly increase the marginal rates over the next seven years.
5. For manufactures decrease depreciation
And for those who want less regulation: Close the EPA. Once Pelosie/Reid/Obama pass the Cow Tax, there will be a bunch of people supporting an EPA shut down. ; )
We need to end this experiment with so called Capitalism and join the enlightened nations that have contributed so much to the evolution of man and the greater society as a whole. Think of the innovations and advancements of countries like Iran, Saudi Arabia, Somalia, Kenya, Zimbabwe, Russia, Venezuela, Syria.
Clearly we must all work together with Father Obama to bring this type of fairness and equitable distribution of goods and services to this nation so we can join with the rest of the World as One.
Their little qualifier for the Obamessiah (”as past presidents have”) is just too cute-they all squawked about what a great economy President Bush received from Clinton, so that any downturns were strictly President Bush’s fault, and they did it right from the start.
Yeah, and Paulson said we were going to have a meltdown in Nov. if he didn’t get $750bil. Got the money, didn’t spend it on what he said was critical.
Who can believe any of these liars anymore?
Another good article from the WSJ, posted by mc6809e:
‘Atlas Shrugged’: From Fiction to Fact in 52 Years
http://www.freerepublic.com/focus/f-chat/2162300/posts
I’ve heard and seen nothing but fear and scare tactics from the Commie ‘RATS since the November coup. I thought Obamacorn “Change” was about hope and all that sh!t.
Barney Frank is confident that the economy will rebound in the Fall. So he wants to pass as much of Obama’s economic plans as soon as possible to take credit for the recovery.
All you say is true. It’s amazing how inept our “leaders” are at grasping the basic problems with our economic system.
bookmark
Yep. They have already admitted, not to waste a good “crisis”.
Most Americans have fell for the snowjob.
Obama is just more New World Order trash. I’d just like to ask the Obama worshipping zombie legions do they really think Obama would have got to where he is today without being the elite’s b*tch? Obama is not some kind of anti-establishment hero of the people like Martin Luther King Jr. Obama is a total corporate pay to play Chicago thug stooge.
Hey nO, no prob, no rush. It's already happened. Nobody I know has any hope of "normal" economic times for at least the next 10-15 years.
So you can relax.
Damn glad I'm old. Feel sorry for the thirty somethings. Ain't gonna be pretty.
Yes, but... past president Reagan actually cleaned up Jimmah’s mess!
We made our mark under Reagan so we can AFFORD to coast through this nightmare. Glad I'm not starting out in May with $100,000 in student loans and an Obama ditch shoveling job!!!
ipods for Obama!!!
So much for those Ivy League educations.
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