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This is all due to the Bush/Cheney lunacy. The chickens are coming home to roost on Obama's watch. Can't blame him too much for not letting the big corps fail like they should have - we would have hit new lows in the market, but would have had a basis for recovery - now with Government Sachs running things it's just a matter of time before we implode.
"The prosperity of the 90s was due to Reagan and Bush 1."
The irony is delicious.
The prosperity of the 90s was actually the later 90s. Thank you Republican Revolution for forcing WJC to cut spending and taxes. It was well worth shutting the government down in late 95 and early 96 to force Bubba's hand. Consumer confidence was never higher, and government hadn't been that resposible in decades.
New jobless claims rise to 554K, total rolls fall - Yahoo! News (http://news.yahoo.com/s/ap/20090723/ap_on_bi_go_ec_fi/us_economy - broken link)
What was that obama said about a "brink" and "rescue"?
I think he guaranteed us if he got what he wanted unemployment would not exceed 8%.
It's now over 9.5% and I am convinced within a month it will exceed 11% due to the new minimum wage rate.
Question, is Obama a liar like Bush since Obama lied about unemployment?
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