Where is the US economy headed?

It is obvious you will defend Obama no matter how blatant his failures are.

If you wish to compare

Obama knows nothing about running a business

nor does he know anything about health care

unless you wish to count his wife's big salary job at the hospital in Chicago where she did little or nothing for a big fat pile of money, as approved by other political buddies of Obama in Chicago, in exchange for who knows what.

And he doesn't even know much about the health of his own kids, as he claimed once that his daughter had meningitis, which apparently turned out to be a total and absolute lie.

Quote:

And he doesn't even know much about the health of his own kids, as he claimed once that his daughter had meningitis, which apparently turned out to be a total and absolute lie.

You are 100% incorrect, Okie. You'll swallow anything that is dangled in front of you, just like a stupid fish.

http://www.cbsnews.com/blogs/2009/10/06/taking_liberties/entry5365670.shtml

Cycloptichorn

There's just one problem with this nice little gotcha story. There's no evidence that either Obama lied.

Now wait a minute Cyclo.

Saying that okie will "swallow anything that is dangled in front of him, just like a stupid fish" is not a satisfactory answer to his charge that Mr Obama "claimed once that his daughter had meningitis, which apparently turned out to be a total and absolute lie". Nor will it do to assert that okie was " 100% incorrect".

You ought to ask him for his evidence.

okie wrote:

unless you wish to count his wife's big salary job at the hospital in Chicago where she did little or nothing for a big fat pile of money, as approved by other political buddies of Obama in Chicago, in exchange for who knows what.

Oh no, politicians getting people around them hooked up with jobs! Whatever will we do.

I doubt you could find a single politician on our national stage whose family members are not in similar positions.
Cycloptichorn

America’s fiscal dilemma is unprecedented because the short-term need differs so dramatically from the long-term one. Today, all the data are signalling weakness. Consumer spending, which represents 70 per cent of gross domestic product, and employment are especially downbeat. Joblessness, having hit a 26-year high, will not improve much through 2010. That puts pressure on consumers. The pace of recovery, therefore, will be painfully slow.

This requires that policy remain stimulative over the next year. The economy could slip backwards without it. That is why the Federal Reserve is maintaining a zero Fed funds rate. It also explains why the $787bn (£492bn, €534bn) stimulus will expand, perhaps to $900bn.<br><br>But for 2011 and beyond, the fiscal challenge is fearsome. A combination of prior tax cuts, years of high spending and a brutal recession have produced the worst budget conditions in 75 years. Through 2019, private forecasts predict deficits averaging $1,000bn a year. In 2019 the deficit would represent 6.5 per cent of GDP and be rising. Worse, national debt will hit nearly 85 per cent of GDP. Annual interest costs on it would exceed the US defence budget and the whole category of discretionary spending. The Treasury’s annual borrowing, including refinancings, would average a breathtaking $4,000bn. All this occurs before the Medicare/Medicaid share of GDP explodes beyond 2019.

... snip ...

President Barack Obama and Congress should not risk a replay of the Carter experience. The scale is so much larger now that the impact of a dollar stabilisation programme would be more punitive. It would jeopardise the entire recovery. This is why an overt commitment to deficit reduction should be made now.

It could take the form of legislation creating a bipartisan deficit reduction group modelled on the successful budget summit of 1990 and consist only of administration and congressional leaders. Its recommendations, by law, would be submitted by December 31 2010 and face an up or down vote within three to four months. It would acknowledge the need for higher taxes and spending cuts.

It is true that Mr Obama inherited the deficit. But, like Afghanistan, it is his responsibility now. Only he can forge a process for solving it.more (registration required)