Clueless - or at least pretending to be so he can hasten Americas bankruptcy by borrowing and spending billions more on what amount to WPA projects and short-term Band-Aid 'fixes' that will not have a major effect on improving the economy. The 'economy was worse than anyone thought' bit is just a variation on Obama's tired old theme 'it's Bush's fault'. I can't believe anyone except hardcore leftists are still buying that BS. I also can't believe his actual job approval numbers aren't in the 20's. What I do believe is that Obama will be a one-term president, no matter who his Republican opponent may be.
The Republicans should ask how it is that Obama...who said that he needed to be elected because we were suffering from near Depression levels...can now say it was worse than he thought? His whole rationale for his “stimulus” was that the economy was near-depression levels, so what could have been worse? The “not shovel ready” stimulus will AGAIN be not shovel ready since what he is proposing is the same thing that has already failed. It’s just another slush fund to pay back the unions and his other cronies.
OF course if Obummer really wanted to get the economy moving, he would get rid of regulations (instead of adding thousands more) and most importantly get rid of the spectre of Obamacare, but he only wants it to LOOK like the economy is getting better so he can get reelected to finish his job of ruining this country.
Obama truly believed that he could push Obamacare first because historically, recessions “bounce back” and he would not have to pay politically. Of course, he is too stupid to realize that his policies would actually prevent the economy from rebounding.
“worse than thought”? As I recall the finance and banking folks were in a state of terror. Things had to be done right then or the whole system was going to seize up and then tear itself apart. Now, things were actually “worse” than previously thought? Wow, what a mess.