Written by
As quoted from Reuters (first link)
http://www.reuters.com/article/companyNewsAndPR/idUSN188205120091118
"BEIJING, Nov 18 (Reuters) - President Barack Obama gave his sternest warning yet about the need to contain rising U.S. deficits, saying on Wednesday that if government debt were to pile up too much, it could lead to a double-dip recession.
With the U.S. unemployment rate at 10.2 percent, Obama told Fox News his administration faces a delicate balance of trying to boost the economy and spur job creation while putting the economy on a path toward long-term deficit reduction."
***As quoted from Dallas Business Journal (second link)
http://dallas.bizjournals.com/dallas/stories/2009/11/16/daily25.html
Meiner: A number of business analysts have warned of this for some time. The Cash for Clunkers program caused a blip up in auto sales, but (auto sales) are back down. On a broader scale, since unemployment is getting worse, more and more people are forced to be very thrifty or are being so because of the fear that they could be next. There are many indicators that quite a bit of global economic activity has increased, but there are also some signs that some activity has slid down again — that is, we could go into a double dip. President Obama warns of this because it is politically smart to do that. If things turn out better, the administration will take credit. If things do not go well, the politicos will say they warned about it. That is normal politics — rain or shine, the politicians take credit or dump the blame on others.
***As quoted from NPR (third link)
http://www.npr.org/blogs/thetwo-way/2009/11/obama_china_afghanistan_recess.html
-- He told Fox News' Major Garrett that there's a threat of a "double-dip recession" if the government piles on too much more debt. A "double-dip" occurs when the economy quickly slips back into recession after emerging from a downturn.
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Today, November 18th, 2009. Our absent president has made a choice to play more games and to "double down" on his bets.
Why does the White House continue to gamble with American taxpayers and their dollars. Fair question. Cold hard truth that nobody except the accused "TEA BAGGERS" around the nation will accept or confirm.
It might be time for the EXAULTED ONE to roll not only his shirt sleeves up, but put on a pair of real man's working pants and dig a few ditches. That would look good on his resume.
However, Obama now warns that extending the U.S. spending might have a effect on how long this recession lasts. Not to mention the fact that the little blip from all of the spending that he owns might lead to a secondary, possibly worst, recession.
What was that old saying? "Out of the mouths of babes comes"?
The wisdom part is surely lacking in the Chicago White House.
Where was all of the Obama wisdom when bailing out Wall Street, Banks, Auto Industry, Labor Unions, Postal Service....
Please feel free to add to the list of whom is stealing the holiday presents from you children...