Goldman Sachs Sees (Even) Worse Recession, Higher Unemployment

Obama's Economic Plan:

The value of the American dollar has steadily dropped since GWB got into office. How can spending almost 5 trillion debt dollars not result in a devaluation in us currency? They dramatically cut taxes, make wars that don't need to be fought, nearly double the US debt in 8 years,... and they seek to blame a newly elect president who naively (or perhaps not so naively) wants to undo the mess they left as their legacy?? This country is over-due for an independent. Corporations have so infiltrated the legislative, judicial, & election system of this country that a massive overhaul is way past due.

The problem in this country is massive greed. Spending trillons more in the next 4 years isn't going to do anything other than further erode the value of the US dollar & delay the inevitable... which is a massive economic correction that has been caused by trickle-'up' economics (which was a crock of you know what that was sold to the public by Reagan & his bunch of arms-4-hostages, gun-toting deceptive bunch. Trick-'down' economics was rightfully labeled voodoo economics. It never has paid for itself & it never will pay for itself. All it does is inflate GDP, increase inflation, & massively increase the debt of the country while concurrently lining the pockets of those who are connected to the political regimes who spin it for more than it really is.

D of TX @ Jan 29, 2009 19:44:13 PM

obama

the guy is not even in office yet. you can't undo 8 yrs of BS from the Bush administration overnight. it will take years to undo the situation Bush has put us in

justin of CA @ Dec 16, 2008 20:28:56 PM

a bunch of sore losers

he has'nt even taken office yet and your already expecting him to fail

How come the town idiot G W Bush has a hall pass and he has nothing to do about this mess. all I hear

Its clintons fault

its his dads fault

its the bankers fault

no

we elected a moron who invaded a country on "Bad intelligience"

When it was more like cooked intellegience

I do not know why this guy still has the keys to the whitehouse he's been such a disgrace But you (the conservative movement )can sit there and bad mouth our next president and if he does not walk on water you'll crucify him. When h

knackster of CA @ Dec 14, 2008 08:10:55 AM

Wizard of NY--"blame Bush admin forever"

Bush is in charge right now. Not Obama. If you don't hold the current president responsible for the economic downfall, how can you possibly hold a future president responsible?

MK of AZ @ Nov 25, 2008 05:20:45 AM

Who voted for Obama?

It'll be interesting, the "the symbol of hope" and "the creator of change" may look like a fool if things keep getting worse. He can't blame the Bush administration forever.

Pretty soon people might start asking: Did you vote for Obama?

The Wizard of NY @ Nov 22, 2008 22:54:50 PM

Duh, they didn't know Obama would be President....

George of VA, the change that Obama brings is from Capitalism to Socialism. Of course the markets are going to drop!

If Obama was for helping people and the economy, he would come out and say things like:

I will work to lower taxes for all Americans.

I will not raise taxes in the near term.

I will work to cut the Capital Gains tax significantly so underused assets can be sold as quickly as possible to those who can find value.

I will work to ease regulations that slow down creative destruction.

If he did this, companies would know what to expect.

BUT NOOOO, we have a Socialist who plans all sorts of regulations and taxes. So of course the markets are dropping. I'm surprised they aren't dropping faster.

Alz of IL @ Nov 21, 2008 19:28:54 PM