Posted on 12/07/2008 4:09:19 PM PST by An Old Man
President-elect Barack Obama today sought to calm Wall Street and Main Street alike with a sober but reassuring assessment of the nation's finances.
When you think about the structural problems that we already had in the economy before the financial crisis, this is a big problem, and it's going to get worse," Obama told CBS' "Meet the Press" program.
But he dismissed comparisons to the Great Depression, saying "I think it's important for us to remember that, as tough as times are right now, they're nothing compared to what my grandparents went through, what the greatest generation went through."
Yet the contrast between Obama's high profile and President George W. Bush's comparatively low profile marked a striking shift in presidential power. In a weekly radio address, in a television interview and in a news conference, Obama sounded like a sitting president. He rallied support for an auto bailout and the massive economic stimulus he announced this weekend, saying, "We need action, and action now."
(Excerpt) Read more at abcnews.go.com ...
By now, everyone but the one knows there is absolutely nothing the government can do to help the housing debacle other that more of the same that got us into this mess.
How far back must we go to find a Democratic president who was NOT a narcissist?
MM
“Words, just words”.
He may sound like a sitting president. He may talk like a sitting president. He may even walk like a sitting president. All that doesn’t make him a sitting president, though, despite this giddy reporter thinking otherwise.
R's and D's will destroy our currency and economy to ‘save’ the housing market. There is plenty for them to do wrong in the future.
Obama is a marxist, and his solutions will end up being marxist, command economy solutions.
He's correct. They're not that tough yet.
I do have to agree with "dear leader" Obama that this talk of depression is ridiculous and actually hurtful to the country. When we get to 25 % unemployment, I'll agree we're in a depression
Obama is just a front man for a political machine.
His mouth moves but the message has been deliverd to him to give.
Too late, I am already depressed, been so since Nov 5th.
Obammy was in on this scam from the beginning. That’s what the MSM is not saying. In fact Obammy isn’t even saying it and blaming instead on republican policy. This guy is a complete idiot.
He never said this during the campaign. He said things hadn't been this bad since the Great Depression numerous times. Now after he's been elected he is admitting that he was lying in order to get elected. Can't just one person in the press call him on this?
That’s Obama for you...all show and no stay.
The American deserve action now, not 1-20-2009.
Exactly what did Obama’s “grandparents” go through during the Great Depression?
I’m gonna put your name in the more of the same column.
Truman was the only halfway decent of ‘em.
the beginning of the DEM party?
They have something to look forward to!
Obama sounded like a sitting president.
A Marxist social worker with a law degree tells us not to worry. His only experience in finance is as an attorney for ACORN which pushed HARD for loans to people who weren’t qualified hence the economic crises when the government guaranteed the loans. And he wants more loans as the job isn’t finished.
Anybody with a brain knows the country is BROKE and his only answer is to throw trillions at the problem. Yeah, Wall Street will follow this guy.
Meet the Press is now on CBS??????
The Fresh Prince of Bill Ayers got a glimpse of reality and isn’t talking much about “Hope” and “Change” nowadays, is he?
Great - our economy is tanking and we’ve got an inexperience, empty suit in the WH
Doesn’t instill much confidence.
You really are a stickler for details aren't you! Back when Jimmy was the Ruler of this country we had a 30% unemployment rate in Pend Oreille County in Washington State. Interest was running as high as 22%. They could not bring themselves to call it a depression then either.
As hard as I try, I cannot find an official definition of what a depression is. I suspect that is because you will know one when you see it.
I believe the white ones are all dead, but from what I can see from the pictures on the Internet, the black ones are still in it.
"When we get to 25 % nationwide unemployment, I'll agree we're in a depression"
Corrected
can you imagine if president bush had said
“it’s going to get worse?”
You’r just trying to be ornery. Have another beer, things will look better in the morning.
“The Fresh Prince of Bill Ayers”
I love it!!!!
I think I remember him telling someone during the campaign, when the first bailout was being voted on...”You tell me what you want, I’ll sell it.”
Meet the Press is now on CBS??????
Please do not expect the media reporter to get all the facts correct. Since he spelled the Great One's name correctly, the rest of it does not matter.
Besides, if you never watch the shows, Tom Brokaw and Bob Schieffer can be mistaken for each other, along with other old cranky white-haired guys. A simple mistake.
Yep! The reality hit him when he had his first meeting with his economic advisors. You could tell the man was shaken to the core during his first presser!
The guy is a total idiot!!!
I thought we were all in soup lines before the election?
They prepared him for the Obama Depression!
I guess he can pretend just about as well as the one we got now that has an MBA(from Harvard?), has been in the “awl bidness” a couple of times, was managing partner in a pro baseball team and was the guv of a big state.
So, you see, being a business man does not mean successful management of the budget.
PS-I voted for Dubya 4 times so that tells you how stupid I was.
I know. I have just been soooooo disappointed with Dubya on domestic issues.
He talked about it when the economy first tanked. He doesn’t want a depression on his watch.
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