Obama to Address the Economy
Posted in Main Blog (All Posts) on January 8th, 2009 5:36 am by HL
Obama to Address the Economy
Here’s a brief excerpt from President-elect Obama’s speech on the economy scheduled for 11 a.m. ET at George Mason University:
“I don’t believe it’s too late to change course, but it will be if we don’t take dramatic action as soon as possible. If nothing is done, this recession could linger for years. The unemployment rate could reach double digits. Our economy could fall $1 trillion short of its full capacity, which translates into more than $12,000 in lost income for a family of four. We could lose a generation of potential and promise, as more young Americans are forced to forgo dreams of college or the chance to train for the jobs of the future. And our nation could lose the competitive edge that has served as a foundation for our strength and standing in the world.
“In short, a bad situation could become dramatically worse.”
January 18th, 2009 at 2:45 pm
I hear you loud and clear. Frankly, I don’t know what the answer is to our economic woes. I just received a phone call from an old friend of mine who just moved down to Palm Springs. He said that absolutely nothing is going on down there in the way of work and all he hears about is more businesses closing their doors. I’m in Oregon and it’s the same up here. Car dealerships that have been around for years are now gone and now, of course Circuit City is liquidating. I do know that the politicians are NOT helping matters by throwing money at the problem expecially when the recipients of that money aren’t doing anything to spur on business. In my case, I’m on a fixed income (a senior) and of course I need more money, too. I can’t work overtime to make up the increase of the cost of living. Sure, we got a Social Security raise but that was gone before we received it. Luckiily, I’m with an online company that provides me with as much as I need and then some. You can visit my site and judge for yourself though. At my age I can’t get a regular job. Competing with younger folks who have more education than I do and who will work for less is why. I feel for new graduates (high school or college) because I don’t know what they’re going to do. Maybe it’s true what the old timers said when I was young; “There’s nothing like a good old war to set the economy straight.” Sad, huh?