Skip to comments.Obama says worst of recession is over amid economic turmoil on Wall Street
Posted on 08/12/2010 12:18:14 PM PDT by Nachum
Wall Street gave a thumbs-down to the economy as the Dow Jones slipped into the red for the year.
The Dow Jones tumbled 265 points on Wednesday amid growing worries that the world economy is weakening. The pessimism from traders came one day after the Federal Reserve downgraded its outlook for the economic recovery amid fears of a double-dip recession.
Wednesday's tough day on the markets is the latest piece of difficult news for the White House, which is trying to promote last year's $787 billion stimulus through a series of events it has dubbed the "recovery summer."
President Obama, facing a difficult election environment where his partys majorities in Congress could be lowered or lost, on Wednesday reiterated that his administration is doing everything it can to turn the economy around.
He also insisted the worst of the recession is over as he signed legislation suspending duties on hundreds of imports. Challenges faced by the nation have been confirmed not only by a steady stream of data since last spring, but through a series of crises in Europe that roiled markets and stoked fears of a double-dip recession earlier this summer.
(Excerpt) Read more at thehill.com ...
Now I know we’re screwed — hussein lies virtually every time he opens his mouth.
Obama’s schedule today was 3 meetings than an early bangout for a long weekend.
‘O’ is delusional DOLT.
So much for the "Summer of Recovery".
0bamao may soon feel "The Winter of our Discontent"!
in other news he says he is a Christian, but periodically has lapses and wishes all , glowingly, happy ramadan from him and the white hut.
After reading all the economic experts say we are either in for double dip it’s refreshing to here the boss says it’s over. I feel so much better!! /s
“All is well!” - Kevin Bacon in Animal House
So its 3:18PM and the market is down 48 Dow points after loosing 250 yesterday. Where do you think it will finish? Up, Down, or Down some more?
Upcoming Recovery Fall.
Its true of course. But, I would add that The Kenyan doesn't really know he is lying. When President Axelrod orders his Stooge to read things from the ObamaPrompter, its not like The Kenyan actually comprehends the things he is reading. He just does what his boss Axelrod and Rahmbo order him to do. President Axelrod picked a perfect Stooge.
This quote from Obama is such an absurd statement on its face that I’m starting to think that Obama speaks in code in public to send messages to his evil minions and overlords. What he’s really telling his evil cohorts is that it’s time to unleash the next hounds from hell event on the American economy again, as it painfully tries to pick itself up from the ground and stand on its two wobbly, unsure feet.
“We have smashed Stalin’s best troops at Stalingrad! Our panzers will head north! Moscow will be ours in a matter of weeks! Anyone who says differently, will be shot!”
“..He also insisted the worst of the recession is over.”
How many times has Obozo said this since he’s been in office?
And we’ve already spent how much of the stimulus? What is this new law supposed to do accomplish that all those other wasted dollars couldn’t?
Sure, the worst of the recession is over. Now we will be moving into the Depression phase of Obozo’s plans.
When one travels to Martha’s Vineyard and other places such as this, is it any wonder he thinks the bad times are behind us? I think we ought to not pay Congress for six months and take away their privileges. Let them live on unemployment they would normally receive from their home state and let them see what it is like for many people who have lost their jobs.
The man is such a liar he even lies about stuff when he talks in his sleep.
How can anyone with a conscience support this total retard?