Posted on 03/15/2009 2:13:07 PM PDT by Lady GOP
WASHINGTON – The economy is fundamentally sound despite the temporary "mess" it's in, the White House said Sunday in the kind of upbeat assessment that Barack Obama had mocked as a presidential candidate.
Obama's Democratic allies pleaded for patience with an administration hitting the two-month mark this week, while Republicans said the White House's plans ignore small business and the immediate need to fix what ails the economy. After weeks projecting a dismal outlook on the economy, administration officials — led by the president himself in recent days — swung their rhetoric toward optimism in what became Wall Street's best stretch since November.
During the fall campaign, Obama relentlessly criticized his Republican opponent, Sen. John McCain, for declaring, "The fundamentals of our economy are strong." Obama's team painted the veteran senator as out of touch and failing to grasp the challenges facing the country.
But on Sunday, that optimistic message came from economic adviser Christina Romer. When asked during an appearance on NBC's "Meet the Press" if the fundamentals of the economy were sound, she replied: "Of course they are sound."
"The fundamentals are sound in the sense that the American workers are sound, we have a good capital stock, we have good technology," she said. "We know that — that temporarily we're in a mess, right? We've seen huge job loss, we've seen very large falls in GDP. So certainly in the short run we're in a — in a bad situation
(Excerpt) Read more at news.yahoo.com ...
“”The fundamentals are sound in the sense that the American workers are sound, we have a good capital stock, we have good technology,” she said.”
Umm, where have I heard this before? It seems oddly familiar and I for some reason have a feeling it was mocked endlessly? Must have been a Republican that said it.
(total sarcasm and I hate the media)
Well, WERE temporarily in a mess. Until Obama and Democratic Congress decided to fix things. Some six trillion dollars later . . . .
That video link above to Biden says it all. Earmarks and all. Bunch of b****sh*****.
I think I heard it may take another trillion to fix the banks ala Turbo Tax Timmy.
Excellent...!!
This is like having the next days edition of IBD.
Go long the SPY, the Qubes, and every other market index..now!!
By Aug...I will be rich!
elegantly clueless .. the Obama legacy
So we didn't need this bailout, or his new budget with another bailout and 1.7 trillion dollar budget?
Does that mean....I shouldn’t go long the indexes?
Stimulus II now in the making. Japan back up investors in case Chicoms back out.
It’s 11.6% already here and rapidly climbing.
Right!
Employment is in the crapper, housing’s in the crapper, manufacturing is in the crapper, financials are in the crapper.
Thank God the fundamentals are still sound....
The Failure in Chief with his Audacity of Dope continues to fail.
I think there is undereporting of unemployment too.
Endless hypocrisy.
Thats a very accurate assessment. Most people agree it will get worse before it gets better too.
Good one, Sky!!
Count me as one. This is a once in a lifetime economic crash.
They can’t make up their minds about anything ... one day it’s this, next day it’s that .... another good one was on stem cell funding ... Obama funds it but in the the stimulus bill it took it out ...
Discouraged workers who aren't looking for work aren't covered. Many people in my family in their 50's took early "retirement" from their jobs, but are not ready to really retire. They are looking for work. Those who are self-employed but don't have contracts aren't counted.
A lot of businesses used the "Big 3" model of 30 years and retirement. If I decided to try and make it in the auto industry and succeeded, I could walk in at 18 years old and "retire" at 48. That's not the case anymore with the cuts in retirement benefits, and those workers in their 40's, 50's, and early 60's have to go back to work.
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