Obama's Pessimism is Hurting the Economy
Most economists study economic history and realize that many recessions are worsened by lack of consumer and investor confidence. Hence, many would think that a President or President-Elect would do everything in his power to assure the public that a solution is being worked on.
What did President-Elect Barack Obama do? He spouted pessimism and like Nostradamus predicting a point of no return.
As Redstate cites the WashingtonPost article that is titled "Obama Cites Grim Economy At Start, as Past Presidents Have". It seems the Washington Post is so alarmed and upset with the terrible speech by Obama that they had to boost him up and remind people of past presidents who cited grim economies at the beginning of their presidency.
In his first major speech since Election Day, President-Elect Obama painted "an especially grim picture" of the economy as Washington Post states.
Obama said "For every day we wait or point fingers or drag our feet, more Americans will lose their jobs. More families will lose their savings. More dreams will be deferred and denied. And our nation will sink deeper into a crisis that, at some point, we may not be able to reverse."
Obama also said "We start 2009 in the midst of a crisis unlike any we have seen in our lifetime -- a crisis that has only deepened over the last few weeks."
The Washington Post mentions President Reagan saying "confronted with an economic affliction of great proportions." And George H. W. Bush has said "we have a deficit to bring down. We have more will than wallet."
Now compare the statements of these presidents compared to Obama's doom and gloom picture.
All presidents warn of "great challenges" and "economic problems we need to fix." That's not what Obama does. Obama is purposefully damaging the US economy by lowering confidence of investors and suppliers.
No matter how bad the problem may be, a president cannot paint a doom and gloom picture and offer little to no solutions to fix the problem. It's like as if he's trying to make sure the economy goes bad.
Presidents in the past warn of challenges and they express understanding of the public's pain and outrage, and then they express solutions to the problem. Obama simply expresses pessimism about the future, possibly to blame Bush for every problem under the sun.
It's the same thing with the banks. The media plays a big role in this. If the media says that the banks aren't doing well, people will take their money out of the banks causing us problems.
Christopher Hamilton
The Right Opinion, for the Right Wing
I totally agree, especially with what Chris said... It's insane that the media is promoting pessimism and outrage. People rush to call their brokers when they hear bad news and tell them to get out get out! Sell Sell!! BOOOOOM market crashes.
Notice how every time the media begins to report on a stock market problem, immediately follows with more market problems.
Wow, I knew his speech was pretty grim. I was watching CNN and it sounded pretty bad.
I think maybe he was trying to scare congress into accepting the bailout ??? I dont know.
When will Obama learn? He's so full of himself.
Now that the democratic party has power, they are arguing with each other and doing power struggles.
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