Posted on 11/01/2009 4:55:03 AM PST by Diana in Wisconsin
WASHINGTON — Elected a year ago on a pledge to rescue a sinking economy, President Barack Obama is credited with helping avert a depression, but now faces a growing unemployment crisis that could torpedo both the recovery and his political fortunes.
Economists say the Obama administration's swift action along with a barrage of measures from the Federal Reserve allowed the world's biggest economy to avert deeper problems.
But the jobless nature of the recovery is proving more difficult to address and threatens to undermine progress in lifting the economy out of recession, say analysts.
"I think the administration handled the crisis very well, but it remains to be seen how they will cope with the exit strategy," said Sung Won Sohn, economist at California State University.
"I believe we were able to avoid a depression as a result of the stimulus program and easy monetary policy."
Sohn said the administration along with the Federal Reserve face "a fine balancing act," with the economy seeming to emerge from recession but with jobs still being lost on a massive scale.
"The patient is out of intensive care but still needs treatment. If you pull away the medication too soon there could be a relapse."
(Excerpt) Read more at news.google.com ...
“Much of the stimulus plan was not written by the Obama administration, it was written by Congress and it was not as well targeted as it could have been,” she said.
Mmmm. Mmmmm. Mmmm.
Translation: Please oh great one, please invite me to Washington
Obama administration is useless and it stinks from the head down.
I agree. Obama has handled the economy well, according to their plan, which is to destroy America.
Exactly.
Agenda by design
“Much of the stimulus plan was not written by the Obama administration, it was written by Congress and it was not as well targeted as it could have been,” she said.
The stimulus bill was ‘well targeted’ to every democrat special interest group. The objective wasn’t employment, it was to ‘spread the wealth’ to those who had supported the democrat party.
The APOLLO ALLIANCE which consists of a coalition of UNIONS, like SEIU, Social Justice groups the likes of ACORN wrote the stimuls bill...
“http://www.freerepublic.com/focus/chat/2325120/posts";
This BS is only going to sell for so long. These people are rearranging the deck chairs on the Titanic.
LOL. What recovery.
Unemployed minority individuals will be declared "Victims of Racial Oppression", given a lifelong stipend and no longer be counted among the unemployed.
Unemployed Caucasians will be eliminated by various means.
/ObamaSocialista
What the heck are we in now with REAL unemployment running at nearly 20 percent a booming recovery?
He did nothing to avert my personal depression, agravated by the fact that he’s POTUS... *SIGH*
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