Obama: 'Millions of jobs' in danger next year - MSN

[Tierra_y_Libertad]

Spending on infrastructure and schools rather than bailing out the fatcats? I like it.

http://www.msnbc.msn.com/id/27854138

"If we don't act swiftly and boldly, most experts now believe that we could lose millions of jobs next year," Obama said in prepared remarks for the weekly Democratic radio and video address.

"We now risk falling into a deflationary spiral that could increase our massive debt even further," he said.

'Ignored for far too long'
Obama said his plan would rebuild roads and bridges and modernize schools while developing alternative energy sources and more efficient cars.

"These aren't just steps to pull ourselves out of this immediate crisis; these are the long-term investments in our economic future that have been ignored for far too long," Obama said.

Obama acknowledged Saturday that evidence is growing the country is "facing an economic crisis of historic proportions." He noted turmoil on Wall Street, a decrease in new home purchases, growing jobless claims and the menacing problem of deflation.

[babylonsister]

1. Do you know what else I like? Unlike idiot son, he's not trying to

sugarcoat what's going on but telling it like it is. That is exactly what this country needs, some honesty finally.

[Tierra_y_Libertad]

3. Blunt honesty is a rare commodity among politicians.

It is kind of refreshing to get a dose of it now and then.

[tinymontgomery]

2. Heck with next year

my sister in law last day at coke in Atlanta is DEC30. She has been there for about 20 years in the IT department.

[jody]

4. I'll be very surprised if any act by government can reverse our loss of manufacturing jobs and the

collapse of national financial institutions in a few years.

Our economic problems took decades to reach their current disastrous state and it will take decades to pay off our debts and return our economy to something more in line with the rest of the world.

[madrchsod]

5. if we would have invested 700 billion directly into the economy

would have generated at least three trillion dollars in income,tax revenue,and other financial benefits.

but no--- we gave it to the banks who will generate 0 dollars in goods and services,income,and tax revenue.