Capital Commerce

More Sunshine from the White House

By James Pethokoukis

Posted: January 31, 2009

More optimism from the White House today. Excerpts (with particularly gloomy parts in bold):

This morning I'd like to talk about some good news and some bad news as we confront our economic crisis. The bad news is well known to Americans across our country as we continue to struggle through unprecedented economic turmoil. Yesterday we learned that our economy shrank by nearly 4 percent from October through December. That decline was the largest in over a quarter century, and it underscores the seriousness of the economic crisis that my administration found when we took office. ... Already the slowdown has cost us tens of thousands of jobs in January alone.

And the picture is likely to get worse before it gets better. Make no mistake, these are not just numbers. Behind every statistic there's a story. Many Americans have seen their lives turned upside down. Families have been forced to make painful choices. Parents are struggling to pay the bills. Patients can't afford care. Students can't keep pace with tuition. And workers don't know whether their retirement will be dignified and secure.

Americans know that our economic recovery will take years -- not months. But they will have little patience if we allow politics to get in the way of action, and our economy continues to slide.

Rarely in history has our country faced economic problems as devastating as this crisis. But the strength of the American people compels us to come together. The road ahead will be long, but I promise you that every day that I go to work in the Oval Office I carry with me your stories, and my administration is dedicated to alleviating your struggles and advancing your dreams.

The New Cabinet Factor!!!

We are in the infancy of the Obama administration which has yet to kick into gear and begin addressing issues long festering within our government. Virtually every department and agency is years behind on enforcement of their duties and responsibilities from FDA inspections, FTC complaints, SEC oversight (we have no status on at least $5trillion in mortgages), USPS backlogs, etc... In short our government has been operating at a reduced level for some time not necessarily due to funding issues but management issues. While the nation's need of a stimulus may be debated by the masses, the government's need for leadership and restructuring in all areas is absolute and may be accomplished without massive spending and may lead to financial gains once a thorough audit has been accomplished. The new cabinet factor may yield an unexpected bonus simply by kick-starting our government again!!!

Ray Fisher of NM @ Feb 01, 2009 11:05:17 AM

you gotta be kidding me

looks like there will be any excuse made to make AMERICANS THAT WERE BORN HERE go backwards and earn what the foreigners from aborad come here to work for. there go the unions obama says. nothing the democrats can say or do will change things.wall street should be penalized for what they did to us. we will never ever have it so good again. we need anotyher industrial revolution, which will not happen, because the rest of the world is smart and has better work ethics than us. we are doomed. I dare you to prove otherwise.

Joe not the PLumber of NY @ Jan 31, 2009 16:26:44 PM

Doom, Gloom, and Kaboom

Tough times sometimes call for a little "politics of fear" to push a massive spending bill through. And don't let Rush Limbaugh go and tell you otherwise.

Joe G. of AZ @ Jan 31, 2009 15:24:16 PM

Add Your Thoughts
About You

advertisement

Capital Commerce

Capital Commerce

U.S. News business reporter Matthew Bandyk examines the issues, people, and debates that shape the nexus of political and economic life in the nation's capital.

advertisement

advertisement

Subscribe

U.S. News Digital Weekly

A weekly insider's guide to politics and policy — in a multimedia, digital format. 52 issues for $19.95!

U.S. News & World Report

6 months of U.S. News & World Report's print edition for only $15. Save up to 67% off the cover price!