Friday, July 10, 2009

Next Wave Of Economic Bad News Imminent

Vice President Joe Biden says the administration underestimated the effects of the economic downturn. And how.

Now there's a new debate up on Capitol Hill over whether another stimulus package may be necessary. Even some Democrats are beginning to break ranks, questioning whether good money should be tossed out after bad.

The administration (again with Biden as head cheerleader) is saying, hey, we're only a little over 100 days into this crisis and most of the "shovel ready" stimulus money hasn't been spent. Hang on a little longer. We'll see some kind of an upswing in the third quarter.

Tell that, Mr. Vice President, to our fellow Americans who were among the first to be laid off. Because their unemployment benefits are about to run out.

What then?


Anonymous said...

Thank goodness because I need the stock market to take another major dip before August. Then I am going to once again buy up solid stock suffering as a result of the panic, just like I did in March. I love it when the pessimists and partisans take to the airwaves.

Gary Baumgarten said...

Yeah probably better to not report it, then it won't happen.