I just spent over an hour just getting depressed.

[Girlfriday]

However, misery loves company, so if you would like to join me you can turn on C-Span at 1:36 am.

Budget Outlook at the National Press Club

Hosted by Warren Rudman - Co-Chair of the Center on Budget & Policy Priorities

Panelists included:

Robert Reischauer - Director of the Congressional Budget Office
Peter Peterson - Secretary (former) Department of Commerce
Robert Rubin - Clinton's Treasury Secretary

I recommend this to anyone who is interested in the faltering economy. I must say, they all painted a bleak picture. None of them intimated that we may have hit the point of no return, but all of them said that we haven't even tasted the pain about to ensue. Really scary stuff. Watch if you dare......:scared:

[david_vincent]

1. I'll join you! scoot over!

Thanks for the advance notice - I think I'll stay up & catch it!

[Girlfriday]

3. Welcome to DU David!

:hi:

[david_vincent]

11. Thanks, and, uh, yup, now I'm scared too

Hi Girlfriday, you're the first person to welcome me here. I was beginning to think that everyone was just going to take me for granted. Thanks for welcoming me!
I did stay up late and, just as you said, right on time it came on. I watched the whole thing and went to bed scared. When Rudman made that comment that the press conference should've been scheduled for 6 p.m. so that once it was adjourned the whole lot of them could go straight to the nearest bar, I really started to understand the import of what they were saying. Rubin hinted that the dollar might collapse! When the reporters started begging for advice on what to do with their money, the whole thing took on a bizarre feeling with overtones of genuine desperation. Was it Reischauer who said that the next generation might be the first in American history to end up less well off than their parents' generation?
Thanks again for the headsup. I only wish I'd taped it. Oh, and by the way, my name's not David Vincent. I took the moniker from an old TV show from the 60s, The Invaders. The protagonist, David Vincent, had accidentally discovered that aliens were already on Earth and infiltrating all levels of society and government. The whole series was based on him running around trying to convince real humans of the reality and gravity of the situation. The aliens, of course, look just like us, except for the fourth finger...

[Girlfriday]

12. Your Welcome

By the way.....my names not girlfriday either. :)

PS - would have PM'd you, but you don't have a profile

[foreigncorrespondent]

14. Hi, David.

Just wanted to welcome you to DU.

Now I shall return you to your regular C-span budget viewing.

[diamondsoul]

2. It is indeed a scary picture.

I hate to be a pain in the rear, but I have to say this-

I FIRMLY believe that Dennis Kucinich's platform has a far better chance of reviving our floundering economy than any other candidate's I've studied. He's got plans that will increase revenue faster than the spending takes place, and I fear that's something many people aren't realizing.

[Girlfriday]

5. Oh Diamondsoul,

I really like Kucinich alot too, but I just feel like he is not electable.

I do totally agree with him on NAFTA and the WTO; in theory they are great ideas, but in practice......"The Best Democracy Money Can Buy" by Greg Palast was great, really an in depth look at the World Bank and the WTO and how we are all getting screwed!

[mhr]

4. Thanks for the Heads Up!

eom

[berry]

6. Thanks! It's easy to miss stuff. Not that I want to be depressed, but...

I've been so busy getting depressed over the continuing beat of the wardrums on C-span 2 tonight--with Woolsey and others trying again to stir up fear of Iran and Syria, I forgot to worry about the economy (just for a minute).

Oh, and as long as you're up (or taping), Joe Wilson's Wash Journal segment from this a.m. is repeating just after the Reischauer segment. It's pretty good.

[Skittles]

7. I've said it for a long, long time now

Bush Inc has no solutions to the sinking economy because THEY ARE THE F***ING PROBLEM.

[TA]

8. If it's as bad as David Walkers report I have to pass

Last weeks budget report by David Walker on C-Span was about as much doom as I can handle in the same month.

[Dogmudgeon]

9. Can someone post a link to a transcript or a summary?

I want to know how much worse I'm going to get boned by the Master Bonesman.

--bkl

[Eloriel]

10. Nuh huh

Krugman on Tim Russert a coupla weeks ago scared me to death. It was very sobering.


Eloriel

[Capn Sunshine]

13. Yeah huh

wait until the market realizes the suckers have left the building. It's just starting to dawn on them....