Friday's dismal employment report underscores the urgent need for President-elect Barack Obama to act quickly to get the economy back on track. But as the devastating economic downturn gains momentum and spreads around the globe, there is a growing concern that any actions under the new administration will have little impact in the short term.
Voters made clear they want the new Congress and the Obama administration to make the economy a top priority. More than six in 10 voters surveyed in exit polls cited the economy as the most pressing issue facing the nation, and nine of 10 said the economy is in bad shape. The other four major issues cited as most pressing — Iraq, energy, terrorism and health care — were picked by one in 10 or fewer.
The latest evidence of the downturn's severity came Friday, when the government reported the nation's employers slashed another 240,000 jobs in October, pushing the unemployment rate to a 14-year high of 6.5 percent. The economy has shed about 1 million jobs so far this year in a downturn that appears likely to be the worst recession in decades.
Obama met with economic advisers Friday amid widespread calls for fresh steps to halt the economy’s rapid deterioration and begin to turn things around. There’s no shortage of ideas: tax breaks for businesses, massive spending on roads and other infrastructure projects, government support for the ailing auto industry, tax credits for new home buyers and aggressive government intervention to backstop failing mortgages, among others.
But it will take time for any of these measures to begin to have an effect. And in the meantime, the latest economic data suggest that things are getting worse.
Consumers — who account for two-thirds of U.S. economic activity — have pulled back sharply in just the past few weeks, as job losses and the turmoil in financial markets have left them spooked. On Thursday, retailers reported steep drops in October sales. Carmakers also saw sales plunge last month, with General Motors posting a 45 percent drop, and Ford and Chrysler reporting comparable pullbacks.
Government support may help the Big Three survive the storm, but there is little government can do to stop it in the coming months.
Dealers face several major problems selling cars. The worsening job market has potential car buyers putting off a purchase until things get better. The panic in the markets that began in September has only made matters worse. Those few customers who are stepping up to buy are having a much harder time getting financing from lenders who have sharply tightened their underwriting standards.
The result, according to AutoNation CEO Michael Jackson, is a downturn beyond the auto dealership chain’s “worst-case scenario.”
“At least we had planned for worst case and were operating for worst case,” he said. “But clearly, we're past that now. The financial panic that has occurred deep into the down cycle for housing and automotive is past worst case.”
The slump has spread well beyond the battered auto and housing industries to the wider economy, sending the gross domestic product into reverse in the third quarter and signaling that a recession is likely under way.
Initially concentrated among the battered housing and construction industries, job cuts have now spread to most sectors, from retailing to professional services. About the only sectors showing growth are health care and government. With dozens of states aggressively slashing budgets to fill gaping deficits, government job losses are expected to increase.
Obama’s economic policies likely will have even less impact on the widening global slowdown. Over the long term, efforts to expand trade and coordinate oversight of global financial markets may have a positive impact. But the short-term global outlook is “dismal,” according to Howard Archer, chief European economist for IHS Global Insight.
“It is apparent that the heightened financial crisis is having a serious dampening impact on already struggling Eurozone economies and is significantly intensifying the danger of deep, extended recession,” he wrote in a recent note to clients.
Even the perennially vibrant Chinese economy is feeling the effects of the global downturn. Economists at Credit Suisse are forecasting that China’s GDP growth could be as low as 5.8 percent in the fourth quarter of this year, down from 11.4 percent in 2007.
That global slowdown could feed on itself as lower consumer demand crimps trade flows between countries. The Credit Suisse economists note that when one country is in recession, imports typically fall as consumers cut back, but exports hold steady as demand remains strong in overseas markets.
But with most economies slowing around the world and the dollar rising, demand for U.S. exports is expected to fall. That could bring yet more U.S. layoffs.
You all are unbelievable!!! He has not took office yet, and will not until Jan. Give me a break!! This is the result of the good old Republican policies of George W. And Obama has already warned us that this will take time and one day is not time. You cannot repair the devastation that Bush and Cheney caused for years, if you ask me. Why anyone would want to run for office, and try to clean up after those two buffoons, is beyond me. The best thing any of us can do is pray for the man, that God will help him to know what is right for all of us.
The Bush Policies won't even expire for another 2 years... but tConservatives will use the next 2 years, using Rush Limbaugh, to keep the divide alive.
Lynn...they have no shame....they are out to destroy the country....if they can't get their narrow minded way, then all they can do is destroy the other side....
Just like little bullies.
I love the title of this article...It has only been 2 days...he hasn't even taken his oath and the press is already making excuses for him! That is tooooooooo funny!
This is still falling on Bush's watch, Obama is not President until Jan. 20th. So everything happening now, is happening on the Republican timecard.....when Jan 20th rolls around then it's Obama's watch.
You guys are unreal!! Obama says we're heading in to a recession and you laugh at him....the government says 3 days later "we're heading in to a recession" and you expect him to have it handled and he's not even sworn in yet. Squirrlly Republicant's
You're going to have to do better than that. The stock market has never had a post election drop like it experienced when Obama was elected. You can lay that directly at his feet, and it isn't over yet. People are not stupid, they know whose fault this is. His socialist policies and taxation promises are causing investors to pull their money from the market before the capital gains tax goes up. That's a direct result of Obamanomics. Hopefully Warren Buffet can straighten him out.
Wrong!! The Dems have been in charge of Congress for two years..........this is happening on their watch.
If anyone is laughing at Obama (as you say) maybe it's because we have been in recession for 6 months............we are heading into Depression...........thanks to his big doner wall street buddies. Btw, Obama IS a senator on the government payroll...........this happened on his watch!
Wrong!! The Dems have been in charge of Congress for two years...this is happening on their watch.
WRONG! it takes time for things to work their way through the economy --even your hero Bush has told you that. This is the Repubs baby whether they want to be held accountable or not. ..Too bad.
Mr. Obama et al: Reality is a @!$%# isn't it?
Maybe the magic wand that he promised everyone that he'd wave- is broken? What is the real world with concerns to reality is far over the heads of the ignorant who voted for him. I thought that you had only wish or vote for "Hope" and "Change".
I call it the audacity of Bull@!$%#.
The liberal media worshipped at BO's altar and claimed he could solve it and spread the wealth around. I guess they discovered a few days too late that fixing the economy is above his pay grade. Since they blame Bush for everything, the Demo"rats" now must claim ownership of their own legislative recession or is it depression. BO hasn't even taken office but the MSM is making excuses and trying to explain why and how he can't fix this but before the election they claimed he could fix anything and pay for my gas, house and all my bills too. One other intersting thought: the taxes in New York and California are already going up and quickly at that. And the increase in taxes is not on the "rich" - it is on the average wage earner and lower and middle class will be hit the hardest. You elected this democratic group and now the media will ignore the facts or fail to report them. We are certain to see more tax increases than we can possibly afford. Have a nice recession! "America deserves the government we elect." Deal with it. NO MORE BAILOUTS!
Hey Thinker - looks like you aren't using yours so I'll clarify a couple things for ya!
1. Liberal media doesn't blame bush for the recession, they blame him for nearly trippling the national debt ... the deregualtion of Wall Street started almost 30 years ago and just gradually got worse - causing the recession.
2. Obama never promised a quick fix to the ecomony, maybe you should do a lil research. I'm assuming you've heard of youtube, watch the debates... and I mean actually watch AND listen... not just sitting there chugging your six pack with your palm down your pants yelling racist rants..
3. State taxes are different from federal ones ... I suggest maybe speaking to an accountant or financial advisor for any further questions.
Ignorance is contagious, I suggest visiting your local library and picking up a history book before your virus spreads - go ahead, put that thinker to use...
amanda,
the only regulation wall street ever had was the SEC oversight of securities and debt issuance and trading, and accuracy of financial reporting. last i looked SEC was still in business and fulfilling those 2 functions.
bank deregulation-google 'ferdinand st james' - wrote the legislation in 1979, signed same year. the meltdown was not as a result of that. google 1977 CRA and 1993 NHIO. that's the reason.
1977 CRA and 1993 NHIO. that's the reason.
Well you've made it perfectly clear you don't know sh*t about the economy --keep talking out your a$$ though --it's quite amusing.
The CRA had very strict rules -and was not the cause . The Gramm Leach Bliley Act allowed institutions not covered by CRA regulations to lend....and then Gramm finished it off by taking away the regulation regarding the credit default swaps ( insurance on any defaulted loans) ---the "free market" allowed greed to flourish --and the greed was from investment houses , banks et. al that supported the Republican party.
we are now in obamanation and michelle pouting yard. how can someone not realize that an all democrat ticket will get things better. it has become now that the ignorant has the power of keeping screwing it up even worse and that is the change coming.
The power in our country rest in the House of Representatives. Other than Bush not having the guts to veto the pork spending of both house, he has played a minor role in the economic collapse of the world. Frank, Dodd, Pelosi, and SEC Chair Cox all had major roles and should be held accountable by Obama.
I have no fondness for McCain but his consistent message of reforming government i.e. Freeze on spending, eliminating pork, upholding Bush tax cuts, energy independence through increased drilling, forced me to vote for him.
Frankly I am petrified in fright of what the far left will demand of Obama. The news media that created him will surely tear him down if the will of the left is not heeded.
But what is really frightening is I think the America that grew me, that taught me the value of self determination, is just about dead. This is not a Democrat thing, or a Republican thing, it is the endangering of a way of life and an existence that has been the envy of the world for centuries. I lament the passing of our nation and I cry for the dismal future of our children.
I dont think any intelligent person in this country is expecting some kind of miraculous magic eraser and make all the problems go away. Obama himself in his speech Tuesday night stated that the problems might not get fixed in one term. I dont think we can expect it to. But we have the future to look forward to and for that of our children as well.
I personally believe that the miraculous we have seen now. We have seen America come together, leave behind racial biases of the past and step up to the plate to let the world know that we are tired of the same old thing in our government and that we want change. We have seen minority groups who have for so long been downtrodden to the idea that they will never be able to affect change due to the stupid racism of the past take a stand, go out to the polls and cast their vote. This election vindicated those people and showed them that their voices are powerful and that they can affect change in this country.
Being a mom of a now 18 year old son, I saw a passion in the youth of America develop, kids and young people who after the election of 2000 no longer believed that voting mattered because the people in power with money made all the decisions anyway, get involved. They lined up to register to vote and took the time to discuss the issues and the candidates. And the results of this election showed them that they also have a voice and that the democratic system CAN work if the people get behind it.
When the word came out on CNN that Obama had won, this group of teenage boys actually put down the video games and the internet chats they were on, as usual, and come in to watch Obama make his acceptance speech. I looked around the room at this diverse bunch of teenage boys (we are white but my son has a very racially diverse group of friends)glued to the television set and i could see the hope in their eyes. This sense of hesitant pride in their country and what they had helped to accomplish by taking the time to vote and be involved. Even the ones that were too young to vote were involved by talking about it and voicing what they thought.
So it's going to take time to solve the wreckage of the past. Its going to take time, negotiations and hard work.Its going to take sacrifice on everyone's part. But we have seen that we are not chained down by the poisons and prejudices of the past. We can see once again that the American people have a voice and we have showed the world that we are not the people that our government has led them to believe we are.
And we can do get thru all the obstacles ahead as long as we believe in what we can be, and keep that hope alive.
The people of this country will not tolerate a President that will preside over 4 years of bad economic times. Whether it's his fault, or not, if it doesn't get fixed, he's done. He has promised to raise taxes on the "wealthy" and on "greedy corporations". The next time that policy fixes an ailing economy will be the first time. Lowering Taxes on investment encourages people to invest, DUH, raising taxes encourages people to put what money they have, elsewhere. DOUBLE DUH. If he does not raise taxes, he goes back on a campaign promise. If he raises taxes, he hurts an already ailing economy. He's in trouble and has yet to sit down in the Oval Office. This will be an extremely short honeymoon.
What? You mean the Dems/medias newly elected Messiah is a fraud? I thought he was able to save the world!
Obama couldn't fix a leaky toilet much less the economy... first of all he isn't in charge of the economy and neither is congress. The corrupt elite brokers, CEOs etc, etc, are... and they already bought Obama so don't think anything is going to change. you might see stocks recover or not but nothing Obama is gonna do will amount to a hill of beans.
They might make him look good if they feel like it but until the corruption and gimme immediate returns by selling out the future is brought under control (throwing a lot of them in the pokey) and serious craking down expect more of the same...
The "Greatest Generation" is getting theirs and checking out; leaving the rest of us to fight over the scraps. Riots and upheaval are just arround the corrner.
Riots and upheaval are just around the corner. I corrected the spelling for you.
They said the same thing about what will happen the day after Obama gets elected. Riots, Upheaval, Red and Blue Civil War, exodus of Conservatives to Costa Rica...
I'm still sitting here waiting for all that to happen.
lol obambam couldn't get a security clearance to clean bathrooms at toys r us, let alone fix the toilet. he couldn't get a clearance to be on his military or fbi escort team, or even clean the plane.
palin has a higher security security than he or biden currently have. (navy times, oct '08)
I guess that is why Obama will be sitting in on the daily presidential meetings which require the highest security clearance...
Dumbass
The demos presented themselves as the ones with all the answers. They've made many anti-wealth threats to the very people Americans needed for investing in OUR economy.
The wealthy worked to get where they are and like all of us will do anything to keep our income the highest it can be.
Good luck dodo-crats when your obama vote will be your downfall.
like always. Black man leaves a bill, Rich old white men have run this country just fine for years. welfare blacks with home loans are the problem with our country today. Chris rock said it white man leaves a will, black man leaves a bill.
Where to start with this racist idiot??????
The name fits.. Rush Limbaugh Drug Addicted Baby #2
Atleat Me and Rush agree, yours is yours and mine is mine. not yours is mine too. Damned libs, guess like the other Hussien we can start sleeping with wives of other men. remeber we are all allowed to have equal share in someone else's pot of gold. and all be poor.
Depends....tell me about your wife....
Go get em Mr Messiah, the anointed one. What a blow-hard. The Liberal Dems are now going to raise the hammer & sickle above the white house and say "Problem Solved".
Welcome Home Nikita... The new Amerika, USSA.
NIKITA KHRUSHCHEV: Premier of the Soviet Union 1958-1964.
"We cannot expect Americans to jump from capitalism to Communism, but we can assist their elected leaders in giving Americans doses of socialism until they suddenly awake to find out they have Communism.''
idiot
What I love is the fact that the very day AFTER BO's election win, the stock tickers were not even on the news website front pages. CNN, MSNBC, yes, even the right wing (whatever) FOX news websites had no mention of the 500 pt. dip in the stock market on Nov. 5. You had to go to the business section to see it. Then today, Nov 6 it dips another 500 and what do they say? "retail sales, jobless claims" are the reason for the market plunging and "Obama can't help economy in short term" they all say.... @!$%#ing Classic. ALready making excusues for him! Turn the table. Were McCain elected and stocks dipped the same way, The front pages would be speculating "Dow's worst two-day percentage decline since the October 1987 comes after McCain nomination!"
WRONG and WRONG again
take a long walk off a short bridge, he will completely destroy our country............wait he's a black can't say anything bad about him cause we'll be called a Racist. YOUR I TOLD YOU SO, IS COMING.
Wish in one and and$hit in the other and see which gets full first.....
kinnda like day and night, wished McCain and$hit black, and it stinks.
??????????????????
YOUR I TOLD YOU SO, IS COMING.
That's funny.. that's what you all said about him getting elected it was impossible McCain would pass his inexperienced butt easily. Do ya think McCain still has him where he wants him? LOL!!!!
Here's what I don't get...is after eight years of raping the treasury, and wiping their a$$ with the constitution, why would any reasonbly intelligent conservative expect Obama to turn the market around two months before he is even inaugarated????Is it because they are racist idiot dittoheads?????Thankfully, a majority of the electorate in this country rejected them and their sorry beliefs.....
They have to blame something because their elite comrade McCain picked a disasterous VP candidate who didn't even know what a VP does... just like he threw away a perfectly dedicated first wife for a millionaire mistress bimbo addicted to MCPain pills.
Just because you disagree with a persons politics does not make you a racist. I would have voted for Condy Rice, Richard Steele, or Bobby Gindal in a heartbeat. They all have more black blood then Obama, but everybody bleeds red, and their brains are gray. Bilbo, you need to rethink the name calling. I'm sure you don't agree with Condy Rice's political views. Does that make you a racist?
Sounds like Mark has a small McPenis and has to hate on McCain to make himself feel better. Now now little marky, we're all sure the water was just cold......shut up ya little cry baby
Bilbo, you are an idiot....plain and simple. I can tell by your post you have no idea what really caused the current meltdown and you are just another hotheaded little liberal. Don't you have a mural of Obama to go paint on some building or something?? Get to it boy!!!!
Who's crying Mike? LOL
But I understand your frustrations... if I had told you to shut up... you would have quoted the freedom of speech clause in the constitution.
Didn't Dave Chappelle and company will Condi to the white race in return for Tiger Woods????Glad you would have voted for her..she seemed especially glad on TV last night that Obama won...what about you????
Cause he said he could, then he said he couldn't maybe not in 2 terms. Can't fix the economy while he is ducking and jiving his past.
I look at the bright side, America is proud and will rebound. I don't mind paying my taxes, I just don't want to pay yours.
Nor do I want you picking my pocket....
Why would any reasonably intelligent person think that Obama CAN turn the market around?
It's not even the President's job to do that, even IF he could (read the Constitution).
I'm going to support obama just like you supported President Bush. I can't wait..
We gave him a chance...his "compassionate conservative" turned out to be a lie......
We supported him for the first 6 years of his presidency.. return the favor.
Mark, the difference is that Bush knew our country was headed for some hard times and he even took the time to address the American people and told us all that is was going to be a long hard road and that we would all have to make sacrifices......Obama, on the other hand, took a different approach and promised a better future for all. Bottom line is that Bush was up front and honest and Obama was a smooth talker that said what people wanted to hear. Well, guess what little camper....buck up and man up and deliver on your word Obama cause where I'm from, a man is only worth as much as his word is good. Remember, the American people are not patient folks and the biggest lesson everyone should have learned from this election and the past couple of congress cycles is that if you don't deliver, you're going to be out on your ear.
So, don't waste time trying to say dems gave Bush 6 solid years of support when all you guys have been saying is Bush has raped us for 8 years......haven't heard one democratic member on here ever say...."Oh, Bush has really messed up the last 2 years." You guys got what you wanted in an Obama presidency, now you get to see the other side of the fight when other people critique your man, so suck it up and get used to it.
But first... before you put a worth on Obama's word... you should at least wait until he is acting president of the USA. I'd say that would be the most intelligent thing you could do.
Mark, the GOP doesn't make such concessions...they're either black or white...no in-between...
Mark, do you even read what you type???? Obama's word..........he already broke that word, to his state for one as a senator and to the American people with campaign finance reform.......... I have a dream............I will buy the election and that is what he did, now with that you bought the hype and troubles that goes with it.
He will have a lame duck first term cause the American People will grow impatient with his broken promises very quickly and the world will follow suit as they watch global collaspe on B.H.O.'s watch.
Are you that Psychic from Jamaica? I've always wanted to meet you.
Obama took dog crap, coated it in chocolate, and sold it to everybody as a tootsie roll. Now everybody gets to take a bite, and he's already warning you that it just might not taste good. But the next one you buy will be better.
Well at least it'll be coated in chocolate...Bush left it as was....
Yeah, he didn't try to fool anybody.
No, his thievery was in broad daylight, and the GOP allowed it to happen....
What are Obama fans doing on these boards? Your man won............NOW GET TO WORK! He's going to give you a job building roads and damns...........you don't have a moment, or the energy, to waste on these boards anymore!
I'll give you the job of building damns.. since you will be that someday.
I'll take the job of building dams instead.
We have to respond to all the dittoheads out there...
Mark, Bilbo,
You'll have to do the work for free.........LOL!
Yeah, what happened to rolling up your sleeves and getting to work? Or is THIS what Obama meant?
Honestly, I'm taking a wait and see approach with Obama but it's fun messing with you Obama supporters.
Jeepers, like it has not been tiring enough seeing the media worship Obama throughout the campaign and now they are already starting defending him before he even gets a good shot at falling flat on his face!! Hilarious!!
And you, JC, are one uninformed person......you're just another Bush hater because some media outlet told you to be one. Why don't you go dig up some old senate hearings and see who was really responsible for this meltdown. All of you people that constantly take the low easy road and try to blame Bush for the economy are the perfect mindless drones the Democratic party rely on most. Just for giggles and grins, why don't you research Obama's boy Raines and see what his level of play was in with good old Freddie Mac/Fannie Mae.....not to mention all of the dems that were right there defending him and accusing the republican senators of unfairly harassing them with auditors and regulators. Bottom line is that Bush did not ruin this country's financial markets....unchecked corporate greed and irrresponsible people did that all on their own. And before you go spouting another company line from your favorite media piehole, do what I mentioned earlier and go see for yourself how it was Republicans warning of the impending financial crisis (and wanting more regulators/audits) and see them getting beat down by one Democratic after another defending Mae/Mac practices.
Bottom line.....your boy's going down and the media love affair will not save him much longer despite their best efforts. By the way, did you notice that he has not committed to attending the meeting next week of world financial leaders.....hhmmmmm maybe afraid to have to go on record for a decision this soon?????
another sore LOSER.....
Yes Bilbo, we lost......If you need help understanding what Mike wrote I will type real slow. Obama will not attend next week cause he has NO plan he is willing to go on the world record for. At least I heard Frank and Dodd are going down, hope that is true.
Good job Mike but unless there closed minds are told what they should believe by the leftest Media instead of researching for them selves your information falls on deaf dumb ignorant ears.
Oh a conspriacy theorist...been listening to Rush again????? He just finished an election...it seens that you gave Georgie a lot more time to formulate his plans...your expectations are unrealistic nad proves your hatred for the man and thus...negates your argument....
Oh bilbo, conspiracy, But he is the one the messiha. he can do no wrong. Conspiracy Bush I think he may have even went to new orleans and blew up that there levy himself??????????????? What flavor of koolaid are you drinking? GRAPE
Bilbo, Lyndon Johnson made a statement, "keep the n's dependent on us and we will have their vote forever." And it's worked.
And your point is?????
Its a racist point... and a very sour one at that.
Floyd? do you also have a white sheet and a rope hanging from a tree?
No mark it is a point. Can you really play this racist card any more? There is a black man going to take his Place in the highest held government seat. The President I think that null and voids this. Blacks were not the only ones at the polls.
The government has zero credibility. The financial sector has zero credibility. The media has zero credibility. All they've got left is a facade that's crumbing faster everyday. This is gonna be real ugly. Prepare. They didn't move that army division onto the continental U.S. for nothing.
So you are proposing violence aganst our government???,,,Then you are a terrorist....
Figures.. now we are getting all the meth addicts coming to this board.. past midnight on the east coast.
Give it up Mike... the threat of civil war the day after the elections didn't happen.
Perspective matters, doesn't it ? Yeah, King George III considered the Founding Fathers to be terrorists. Of course, those guys encouraged future Americans to rise up if the gov't overstepped its bounds.
Bring it on then..
One thing I hate is someone who threatens.. then turntails back into the woods.
Then rise up NOW and reject the terrorist currently in office.....IF you're serious...which I doubt you are....
Mark,
They didn't happen because Obama won! Had McCain won, the Obama fans would have been rioting, claiming the election was fixed, problems at the polls, disenfranchised voters.........blah, blah, blah!!! Spoiled children are always a pain in the ass..........you and Bilbo are perfect examples!
Thats BS... because right here on the vine it was said that if Obama won, conservatives would start a civil war.
dam...you know that statement to be a bold faced lie.....
Bilbo (63.7)
Consider these words:
"But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute , it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security."
If you don't already know the origin of these words, I leave it to YOU to find out.
Bu, bu, bu, but Barack said he could fix things. He said he could and would change the way things work. The world loves Barack, so that will make everything alright.
==========================
So, the backpedaling begins. Wow, it took less than 48 hours. I wish some of this honesty had escaped its cage before the election. (And, no, I didn't vote for McCain.)
And one night after the election he is supposed to have it fixed????Geez what a tool....
Nobody's a sore loser. Just stating facts Bimbo
Your facts have no basis other than your prejudices against those who are not like you.....
Not prejudiced, but you sure are Bimbo
Be nice Jan, Bilbo is a few beers short of a six pack. He is waiting for his next check.
Jim and Jan (sounds like a nice couple I know) your;re not stating facts...you're stating rhetoric....
Sorry Jim, guess I should feel sorry for the Bimbo then, since his elevator doesn't quite get to the top.
personal insult without reason....you are dismissed....
The excuses are already starting as to why Obama will not be successful. All Dems seem to know how to do is blame someone else for their failures. It seems they fail to acknowledge that he has been a sitting U.S. Senator and his party has controlled Congress over the past two years. The president has considerable flexibility in handling foreign policy, but legislation impacting the economy is primarily the responsibility of Congress.
All GOP'ers seem to know how to do is HATE and divide the country...guess that's why I'm really glad y'all got your a$$es whupped for a second time in a row...y'all don't have a clue....
Goodnite all....
Bilbo and Mark are tooooooooooooo funny!!! They actually think Obama WON the race!
And who actually did win????WE all did...the GOP got slammed!!!!
I find it interesting that the same media that propped their candidate up is the same media that is warning people that he won't be able to do the job. He said in his speeches that he will fix the economy. He also said that they will start right away and that he has the solution. Now we're hearing that he won't be able to do it as quick as he thought. Didn't a lot of these problems exist when he was making the same speeches a week ago? Didn't he and others see some of the foundation of what was coming? It sounds to me that the job is going to be harder than he thought. I have visions of a shaking hand on a bible (or Koran) in January.
Hang on did Obama himself say he could fix it? Do you have a quote?
So far all I can find is a lot of people (his wife, Gov. Corzine, others) saying Obama could fix it, but I haven't located a quote from the man himself.
Now that would be hysterical.
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