Good grief! No matter WHO was in office right now, the economy would still be plunging. I have been saying for the past two years we were in a recession, but almost everyone I know (especially those on the right) ridculed me and said I didn't know anything about economics. And this is not an ordinary recession. Obama said from the very beginning, even before he was elected, that it was going to get worse before it gets better. He only just passed the stimulus, and it HAS already saved some jobs and even created a few. He has a housing plan. He has a plan for the financial institutions. Still, this will not magically work overnight. What do you expect, him to wave a magic wand and POOF everything is back to normal?

How quickly some forget the "unease" among many economists and even some Republican members of Congress at the time of the long term fiscal impact of nearly $2 trillion Bush '01 and '03 tax cuts

Analysis: Obama recovery plans sowing some unease

"...Allan Sinai, chief global economist for Decision Economics, a Boston-area consulting firm, said the complexity and enormity of the crisis make it hard to solve.

"There's no way to get it all right, regardless of which president is making policy," Sinai said. "The problem is the sickness got too far. The actions taken, medicine applied, were mainly the wrong actions. So it's just worse, and it gets harder to deal with. At this stage, there is no easy answer, no easy way out. It's a question of how we fumble through."

You should have bolded that.

I don't think all the naysayers are helping either. This recession, which is possibly a depression now, or headed that way, is different. The housing market started it, but it was created by the financial institutions, and the problems that created this mess are not going to be easy to solve. They run deep and they are convoluted. It is complicated. I don't think ANYONE knows exactly what to do. It's easy to sit on the sidelines and criticize, but if asked what they would do, many of the people being critical don't have a clue what would work either. *heavy sigh*

One thing is for sure, doing nothing, or simply cutting taxes, is NOT the answer. And that is what many republicans want to do. Cut taxes. A LOT of wealth was artificially created, and that needs to adjust. It will never come back, because it was never real to begin with.

Reposted by classicman: Obama also said we will be paying for the damage created this last decade even 10 years from now. From mainsteam economists in San Francisco who learned by studying fourteen previous severe recessions: a GDP drop of 9% which takes two years to reach bottom. Unemployment averages 7% and keeps dropping for five years. Housing prices take five years to drop 36%. Government debt rises 86%. Scary part is that America has already surpassed some of these averaging numbers. However statistical variations for 'average' GDP and unemployment numbers are large.

Lessons from history when another administration was so irresponsible. Richard Nixon's total contempt for the American economy in 1968 and 1970 even created stagflation in 1975 through 1979. So what did George Jr create in 2000 through 2008? We are now seeing the result. Economics is taking revenge.

Deja vue? Facts don't change no matter how many political agendas attack Obama.

Obama is encouraged to talk up the economy. But he has already admitted a truth. We will be paying for this economic mismanagement for 10 years. How accurate were the mainstream economists? Those are the numbers. Now we will learn – with or without cheap shots at Obama. Responsible attacks for our economic malaise are directed at the nation’s worst president in 100 years (according to presidential historians) – George Jr.

Which is why America also needed Nixon tapes released years and decades later. It is important to keep noting those who will not believe no matter how accurate the facts. If not done long enough, then 30 plus years later, another president will lie again. What was called Nam then became "Mission Accomplished". How will we repeat Guantanamo, Abu Ghriad, and maybe six secret torture chambers throughout the world? If we don't constantly note facts so that extremists will routinely deny them, then 30 years from now, America will simply create another war based upon lies and overtly disregard the US Constitution.

It is important to keep posting historical facts so that extremists among us constantly deny them. That is how a most important lesson is learned. Important is to demonstrate even years later what reality was and what extremists still deny despite those facts.

Another lesson that should always be discussed: every engineer said to not launch Challenger. Not even one engineer said it was safe. So the ignorant launched anyway - then called it an accident. Today many extremists still call that murder an accident. Another lesson from history that deserves repeating, only because so many routinely deny facts and call it an accident.

Best way to learn is to preach to the choir and all others so that all can see what extremists do to deny those facts.

Some still preach Kennedy tax cuts as economic stimulus when facts repeatedly said otherwise. Another example of preaching when the obvious says tax cuts have long term negative results.

Ur doin it right

lol

Chump chain these days..

Chump what?

Chump Change :D