Posted on 08/25/2009 8:53:27 AM PDT by Welshman007
On the heels of the Obama administration's revised deficit numbers which show a projected 9-trillion-dollar deficit rather than 7 trillion as originally predicted, the Feds today rolled out some more 'revised' figures that should send the warning flags waving frantically.
(Excerpt) Read more at examiner.com ...
Excerpt:
As if that were not enough, White House economic adviser Christina Romer admitted that the economy will shrink by 2.8% this year rather than the 1.2% rate of contraction predicted by Obama earlier this year.
Romer also predicted that unemployment will continue to rise, reaching at least 10% before the end of this year. She further stated that Americans should brace themselves for the jobless rate remaining high throughout 2010...at least more than 9%.
These grim unemployment figures should take us right into the 2010 mid-term elections.
Excerpt:
Unfortunately, these admissions on the part of Obama administration officials were not unexpected, despite the rosy scenario painted by Obama and the Democrats, as well as their cheerleaders in the mainstream media. Many of us have been sounding the alarm over the spending spree of the current government in the midst of a deep recession. We have also warned that the monetary and economic policy being pursued by Treasury and the Federal Reserve will lead to unmitigated financial disaster for the country.
We are spending our way into a financial DISASTER:
Most of us realists do not foresee any significant economic recovery for years to come. To the contrary, the current policies of spending, printing more money, monetizing the debt and then auctioning off the notes which only serves to create more debt, will lead to a financial meltdown that has the potential of being worse than the Great Depression.
Why? Today many more Americans rely on credit and accumulate much more debt than did citizens back in 1929 at the time of the stock market crash. And many more Americans have significant assets tied up in investments on Wall Street than did citizens during the 1920s.
Living large without the means to pay for it.
Obama does it and so do idiotic people.
BUMP!
So if Romer says 10, expect 11 or 12.
all of those unemployed people will give a pool of applicants willing to do Obama/ACORN canvassing for $12/hour.
Where the hell are they? I hear about them all the time, I see all sorts of things being done to ease their burden, but darned if I see them anywhere! They aren't doing the minimum wage jobs at McDonalds or Burger King or Wendy's. They still have the same unmotivated, life-challenged kids who can't work a cash register unless pictures of the food are on the keys. They aren't at any of the places I shop, seems like every place I go is low on employees, always a line, never a person to ask for help.
Where are they? I guess a lot of them do better on unemployment than they would working these menial jobs, but doesn't that eventually run out? I am not taking pot shots at those who have lost their jobs. I just wonder where they are!
LOL!
Mitt is needed to turn this economy around.
I will vote for him if he runs.
Pile on that!
:)
Most of us realists do not foresee any significant economic recovery for years to come.
Recovery will start when people decide they are tired of being poor due to the massive government intervention into all aspects of our lives.
He is certainly more moral in a number of ways, and wouldn't destroy the national security the way Zero is, but he would still be a cap-and-trade/national health care/big-government technocrat.
I pray he's not the candidate. If he is, I'll vote for him, but I'll work to defeat him in the primary.
they are better collecting the $400 week on umempl with the extenstion to 9 months now !! and Cobra is subsidized!
agreed. I currently work one of those low paying jobs ( I lost my administration job this past April) and I now work for 7.75 per hour doing phase changes (resetting the store shelves, moving product, cleaning them) and unloading trucks and stocking shelves at a big box retailer. I bring home about 200 per week now working just under 40 hours a week. My admin job I was making 450 per week. I couldn’t collect unemployment as I was a contract employee. I don’t know how long my body will hold up doing this job (I have to get up at 3 am to start at 4 am- noon/1:00 pm and I am in my mid 40’s), but I will keep trying every day. On the positive side, I lost 11 lbs in the first 2 weeks.......
Where do you get this about Mitt? I doubt seriously he would be for cap and trade.
You’ll have to prove to me that he doesn’t believe in Global Warming. I have yet to hear any conclusive statement from him against it.
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