Obama Administration admits that they don't know what the hell they are doing.

[fava]

But, somehow, it is all Bushes fault and it is above Obama's paygrade.

Obama Predicts Unemployment, Deficits Far Worse Than Previously Stated...
By Roger Runningen and Brian Faler

Aug. 25 (Bloomberg) -- U.S. unemployment will surge to 10 percent this year and the budget deficit will widen to $1.5 trillion next year, reflecting a “deeper recession” than previously expected, White House budget chief Peter Orszag said.

The Office of Management and Budget also forecasts that the U.S. economy will shrink 2.8 percent this year, worse than the 1.2 percent contraction the OMB projected in May. For next year, the budget office said the gross domestic product will grow 2.0 percent, less than the 3.2 percent expected in May. By 2011, the economy would be well on its way to recovery, growing at a 3.8 percent annual rate, according to the administration’s mid-year economic review, released this morning.

The budget shortfall for 2010 will mark the second straight year of trillion-dollar deficits. The projected deficit for the fiscal year that begins Oct. 1 is higher than the $1.26 trillion forecast in May and reflects expectations economic growth will be slower this year and next because of “the severity of the crisis in the U.S. and in our trading partners,” said Christina Romer, White House chief economist, who along with Orszag briefed reporters on the report.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aNaqecavD9ek

[mpodlesny]

can't let a good crisis go to waste

[Iggy]

If they have am radio this should not be surprising to them.

[Ariel_Avram]

Obama admin wrong once again. There's a surprise. :rolleyes:

[SFC(R)L]

i'm stunned

[muhadeeb99]

Clueless at 1600 Pennsylvania Ave.;)

[danagoo]

Obama Administration admits that they don't know what the hell they are doing.

Case in point: The CIA witchhunt.

Brilliant!

"Eric, buddy, Barak here. Having some trouble on healthcare. Need you to create a crisis to divert the attention of our moronic citizenry. Hey! I know, go after the CIA again. They're always a convenient punching bag. Don't forget to harp on the words 'Bush' and 'torture'. Ooh, don't forget 'Cheney' and if you can work in 'Rove', I'll invite you over for a beer. Tweet me when your concept is flushed out. "

Of course, most Americans are asking, "Who's more dangerous to our security, Al Qaeda, or the folks asking them questions?"

Obama just doesn't get it. I am not sure he ever will.

[JOSEYWALESTX]

Blaming Bush again.That is so old That it just doesnt pass anymore Here is the reasons for this fiasco, #1 We have a man in the white house whose only qualifications are that he is mixed race..That gave him a pass somehow,,This guy has about much purpose in the white house as a spit wad,, #2 In case you have forgotten this entire election campaign by the socialists was one of change They were going after corporate America THEY WERE GOING TO MAKE THEM NOTHING MORE THAN A HEEL DOG..Well here is reality boys and girls Corporate America doesnt need this country ...this country needs them,,Right now Europe is growing with leaps and bounds economically as American companies move there and we are going to be 3rd world in the next 2 years,Do you remember the messiahs first town hall when that woman asked when the jobs were going to return His answer was they are not going to return..Are you all sleeping Have you all become so self righteous with political correctness which to me is just mind and thought control..#3 Just take a look at this guys cabinet WHAT A JOKE #4 THE COMPLETE MANIPULATION OF THE MEDIA Hell nbc is selling obama dolls on their web site,,last and not least we have groups like acorn This is what acorn means A Communist Oorganisation Right IN YOUR Neighborhood

[oneguy]

But, somehow, it is all Bushes fault and it is above Obama's paygrade.

Obama Predicts Unemployment, Deficits Far Worse Than Previously Stated...
By Roger Runningen and Brian Faler

Aug. 25 (Bloomberg) -- U.S. unemployment will surge to 10 percent this year and the budget deficit will widen to $1.5 trillion next year, reflecting a “deeper recession” than previously expected, White House budget chief Peter Orszag said.

The Office of Management and Budget also forecasts that the U.S. economy will shrink 2.8 percent this year, worse than the 1.2 percent contraction the OMB projected in May. For next year, the budget office said the gross domestic product will grow 2.0 percent, less than the 3.2 percent expected in May. By 2011, the economy would be well on its way to recovery, growing at a 3.8 percent annual rate, according to the administration’s mid-year economic review, released this morning.

The budget shortfall for 2010 will mark the second straight year of trillion-dollar deficits. The projected deficit for the fiscal year that begins Oct. 1 is higher than the $1.26 trillion forecast in May and reflects expectations economic growth will be slower this year and next because of “the severity of the crisis in the U.S. and in our trading partners,” said Christina Romer, White House chief economist, who along with Orszag briefed reporters on the report.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aNaqecavD9ek

I thought Obama fixed the economy already with the Stimulus.

They all claim it is working, right?

[Streelsh]

Obama admin wrong once again. There's a surprise. :rolleyes:

Avram, YOU sound surprised ! But what do expect from a community organizer whose ONLY national experience was a few months posing as a US Senator while fully engaged on campaigning for President !

[Streelsh]

I thought Obama fixed the economy already with the Stimulus.

They all claim it is working, right?

That's Porkulous ---and it goes to show you it was NOT kosher !