Obama warns economy likely to get worse

[PolyD]

Source: MSNBC.com

BREAKING NEWS
msnbc.com news services
updated 3 minutes ago
CHICAGO - President-elect Barack Obama on Monday unveiled his economic team and warned that "the economy is likely to get worse before it gets better."

"I've sought leaders who could offer both sound judgment and fresh thinking, both a depth of experience and a wealth of bold new ideas — and most of all, who share my fundamental belief that we cannot have a thriving Wall Street while Main Street suffers," Obama said at the start of a Chicago press conference. "That in this country, we rise and fall as one nation, as one people."



Read more: http://www.msnbc.msn.com/id/27885917?GT1=43001

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It's nice to see the Prez-Elect again on the Tv.

[NewImproved Deal]

1. The right man for the Time

"...we cannot have a thriving Wall Street while Main Street suffers..."

The Plutocracy needs some very tough love, Mr. President. More strength in your arm!

[oldnslo]

2. I hope they can take the temporarily bad news

From what I've seen over my lengthening life, people hear what they want to hear, and there will be some who will actually be shocked and amazed that the new president could say something so outrageous.
Most of us can recognize gain is usually brought about with some pain, and Obama's statement doesn't frighten us. We will try to be as prepared as we can be. Start hunkering down. Put away the plastic.

[CJCRANE]

3. Why do they take the worst phrase

from the whole press conference and use it as headline?!!

:mad:

I just watched the presser and that wasn't the general message he put across. It was much more determined and optimistic than that.

[ryanmuegge]

4. He's being misleading by implying that it will ever get any better.

This is not part of a cycle. This is the new norm. This is what "free trade" has caused.

And, yeah, that's a misleading headline.

[aquart]

6. And "free trade" is no more permanent than anything else.

[DogPoundPup]

5. Breaking: Obama to call for 'cuts and sacrifices'

http://www.politico.com/news/stories/1108/15920.html

[ryanmuegge]

11. Not to the sacred military budget, of course.

That would the be smart and moral thing to do.

[SpiralHawk]

7. "Well, gosh, guess I have to admit that we republicons are responsible." - Commander AWOL

[bdamomma]

8. no thanks to the bush regime.

criminals all of them.

[cufford]

9. Of course it will

Of course it's going to get a lot worse. This is the tip of the iceberg only. It took 15+ years of so-called FREE TRADE to decimate our manufacturing base, our industry, in this country. The very industry that supported our middle class and in turn the entire country.

Now that there's not enough decent paying middle class jobs left so sustain our economy, we're in a free fall...a downward spiral that is only getting worse by the day. More layoffs every day. Fewer jobs every day. More people losing their homes every day. The domino effect is unstoppable in the short term.

The only thing that can turn this around is for enough citizens in this country to begin making a living wage again. It takes people with money to fuel the economy, not rich people or banks with assets or for anyone to have credit.

It's all about jobs. Jobs that pay a living wage, and there aren't nearly enough of them these days to fuel this economy.

And giving billions or trillions to big business isn't going to do a fucking thing, because big business is anti-labor and they have no intention of using a penny to pay their workers any better with.

The whole thing is a sick joke, this so-called bailout. It won't do a thing for main street.

And will any of these so-called "new jobs" that we're promised by "living wage" jobs, or just more minimum wage jobs. That's a rhetorical question.

It's all about living wage jobs. Enough of them so that enough people have money to spend above and beyond their rent and utility bills. Without that, we have nothing but a great depression in our future.

Of course, you don't hear many people talking about that, especially our elected representatives. Thom Hartmann is about the only voice out there that I've heard talking about what's really going on, and why we're in this situation.

[Mithreal]

10. Not enough people talking about it here either

Should be every one of us standing together and shouting.

[Tansy_Gold]

14. Well *I* am!!!!!!!!!!!!!!!!!!!!!!!!!

Obama lied. And he keeps lying. And we fell for it. He played us for suckers.

Rolling back the tax cuts for the rich? Not any time soon.

Changing the faces in Washington? Not with a bunch of recycled Rubin acolytes, who are little different from Greenspun's.

Has he spoken out against hte bailout of Citi? Has he demanded the fat cat CEOs do a little of the sacrificing? Or just the GM retirees who built the cars that boosted the stock that fattened the cats?

Liar. Liar. Liar.


Tansy Gold

[MzYvonne]

12. Well Said

Thank You

[Overseas]

13. Deflationary spiral is a scary term. //nt