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 party’s 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 ...
This is satire right...right?
If this type of liar says “the worst of the recession is over” that means “the worst of the recession is just getting started”.
Yes, you can tell he’s lying if his lips are moving. If he could type, you would tell by his fingers tapping keys.
Nobody is believing anything this administrations says. It’s like telling us it’s daylight outside when it’s nightime.
zero is a damn liar!
Obama is actually doing everything he can to worsen the depression. He could not do more to worsen the depression if he tried. By piling on catastrophic debt, he is guaranteeing a long, painful depression unless it is countered with a short, very painful hyperinflation.
“hussein lies virtually every time he opens his mouth.”
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He should have replaced Jon Lovitz as Tommy Flanagan, yeah, that’s the ticket. I thought Bill Clinton was the worst liar I had ever seen in politics but he has been left in the dust. Obama reminds me of a Navy Chief who claimed back in 1962 that he drove someone to the airport in Los Angeles, watched their plane take off on a direct flight to San Francisco and jumped in his car and drove to Frisco to watch them land. No, he didn’t tell it as a joke, he expected someone to believe him.
A fighter who rises from the canvas just long enough to be knocked flat again has “recovered” his horizontal position.
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