DISQUS

Greensburg · 10 months ago

Get used to it. Obama's plans will never match his soaring rhetoric, in any area.

Soundboy_jeff_meanie · 10 months ago

anything's better than nothing.

you voted for mcsame I take it?

Bubbles · 10 months ago

Actually he makes a good point. Obama's rhetoric has always been soaring. I imagine he could get a standing ovation for saying he had to get up and go to the bathroom if he wanted. So, yeah, I'd have to agree, his plans aren't likely to match his soaring rhetoric. Still he was the best person to vote for at the time, and seemingly better than most at any time.

Akaison · 10 months ago

I donated to Obama, pushed friends who were leary to vote for him and voted for himself myself.

That's to say - Obama is fucking up and has been since he's gotten elected. This was always the danger with him. He is cautious in a time that requires him to transcend his flaws.

I voted for him knowing his flaws because he was better than the other guy. Support does not mean blindness. You may want to consider that.

dad · 10 months ago

great concern

ezpz · 10 months ago

Let's hope Obama will honor his own words when he said:

“If Paul Krugman has a good idea, in terms of how to spend money efficiently and effectively to jump-start the economy, then we’re going to do it.”

http://thinkprogress.org/2009/01/09/obama-krugm...

lpeggy · 10 months ago

What is Krugman's plan? And if it is two or three times larger than the Obama plan, how does Krugman plan to get it through Congress?

We need all hands on deck for this, which is something Obama seems to welcome. Give him a chance.

John Aravosis · 10 months ago

Krugman's plan is not to give 40% of the stimulus to non-stimulus pork meant to woo the Republicans. For starters. Second, we're facing another Great Depression, that has the ability to focus the mind, and the voter, rather incredibly. Obama could pass anything he wants right now if he does it smartly.

Akaison · 10 months ago

Obama is going for the 40 percent fot he wrong reason. If the talking heads in DC are to be believed, he's doing it because he wants the support of the GOP because he wants to appear bipartisan. In other words, it's not about the failure or sucess of the plan, but whether or not the GOP agrees with it. Whether the plan is 51 or 80 will not change whether its a good or bad plan or not. But it will harm Obama's bipartisan cred that so many of you like. If the economy goes into a depression it will not matter whether it was 51 or 80 who let it happen.

Soundboy_jeff_meanie · 10 months ago

sorta on topic... just heard 11 people I work with are now without jobs.

no new jobs to go to either.

who was it that was joking about Reid mentioning bread lines?

I wonder if they'll be laughing at the thought in six months.

halo08 · 10 months ago

Obama just addressed these concerns, check out the article on Huff Po:

http://www.huffingtonpost.com/2009/01/09/obama-...

We shouldn't just eat up whatever he says, but can we please let him get in office first? Give him a chance. It's like before he can do anything people are ready to attack. If half of these people were this concerned when Bush started messing up, we may not be in the shyt hole we're in now.

Gridlock · 10 months ago

^^ Lesson learned, buyer beware. I don't think anybody is anything less than completely twitchy after 8 years of Shitbag and Darth in the office.

halo08 · 10 months ago

I can understand why they would be, and rightfully so. The last thing I want is for us to look back eight years from now and say things were better back when. We all want things to get better.

Gridlock · 10 months ago

Yeah, I think the crux of it was a lot of people said about Bush "Wait and see what he does"

Well.. the whole world found out, didn't it. I prefer keeping their feet to the fire than the whole laissez-faire attitude or even blind messianic chanting the repugs seem to offer to their political witchdoctors :P

questionauthority · 10 months ago

Hear Hear...!

I strongly believe Obama has faced more challenge than any other presidential candidate or President Elect in our history.
Give the man some breathing room for heaven's sake!

halo08 · 10 months ago

Pres Obama's hair is going to become grey in a very short time because he has a whole lot of mess to clean up. I wouldn't have voted for him if I didn't think he was the man for the job or that he would surround himself with capable hands that would help him get things done right. love my country, but no way in the world would I ever try for the job of the President. You're always damned if you do, and damned if you don't.

Joel · 10 months ago

We were concerned when Bush went into office. Bush and Company didn't listen. Is Obama also not going to listen?

halo08 · 10 months ago

If we go by the article I posted, it seems as if he's willing to listen to ensure that we get it right.

John Aravosis · 10 months ago

No, we really can't wait until he gets into office, for two reasons.

1. We're trying to avoid another GREAT DEPRESSION. We don't have time to sit back and enjoy a honeymoon.

2. Obama isn't waiting until after his swearing in to work on the stimulus package. He's working on it now. Many are suggesting that we just sit this one out, and cross our fingers, hoping that a really bad stimulus bill doesn't lead to our economic destruction. Sorry, but I don't think that's a very sensible course. We know what Obama is doing, he's doing it now, he's telegraphing it publicly, and it's a bad idea. We're not discussing some arcane area of policy, we're talking about avoiding a Depression.

halo08 · 10 months ago

point taken.

John Aravosis · 10 months ago

Thanks. :-) I've been getting too used to people ripping my head off of later around here :-)

Steve_in_CNJ · 10 months ago

the monitors are leaving you twisting in the wind.

Akaison · 10 months ago

Well that's because you are saying things they don't want to hear. It does not mean you are wrong. Just accept that telling people what they don't want to hear comes with the terroritory.

halo08 · 10 months ago

LOL, I know the feeling, but I can listen to other people's comments and accept when I'm wrong on something. That's why I come here and read the comments so I can hear different viewpoints. Have a good one!

questionauthority · 10 months ago

Re: "Paul Krugman is the second Nobel economist in two days...to say that Obama's stimulus plan isn't big enough to help..."

I wonder if it's fair to ask; is it Obama's stimulus plan that isn't big enough, or is it the Bush Admin's sabotage of the economy to deliberately undermine Obama's stimulus plan that's the real problem?

scottinsf · 10 months ago

Boeing to announce at least 4000 layoffs today.

KerrynowCampau · 10 months ago

Ouchies!

Older_Wiser · 10 months ago

Yesterday, Freightliner announced 2200 layoffs in 3 plants in this area of NC. (My neighbor has been laid off from there for over a year, so it's pretty dire this time.)

scottinsf · 10 months ago

Yeah, the big truck companies are struggling too. Paccar, the maker of Kenworth and Peterbilt trucks, is taking a big hit and that hits the Seattle area hard also.

Update to above: Boeing just announced 4500 layoffs mostly in Seattle area.

Milli · 10 months ago

Wow. So Obama put out a plan that he himself knows isn't enough and contains useless republican appeasements, and in return, within a matter of hours, days, its being openly discussed by experts and in the court of public opinion. Suggestions are made, warnings are being issued about the repercussions of a failed plan, and the public comes onboard and decides they want a better and bigger plan and are ready to drown out the republican whiners who are clinging to their useless and destructive tax cuts - all before a final draft is even ready, and all before the man is even in office. And Obama is playing this all wrong HOW?

Joel · 10 months ago

And Obama is playing this all wrong HOW?

First, as Obama really like to do, trying to be all things to all people and straddle the fence.

Really, what's wrong with the guy? He's been elected by one the the greatest mandates since Ronald Reagan, he's going to get a great majority in Congress to back him up. The dumbass ran on a mandate of freaking change and he's all about keeping it the same.

Steve_in_CNJ · 10 months ago

indeed. we don't need political voodoo from the president. he's got what he needs to govern. he should use his 70% enthusiasm from the public on economic reform in order to marginalize the free-market idiots. i'm worried we are seeing a personality flaw, not shrewd political calculation.

John Aravosis · 10 months ago

He's only playing it right if this is really his plan, and if he finally does the right thing. Currently, I'm not convinced that this is part of some grand plan.

Milli · 10 months ago

Has anyone ever written a first draft of a paper in college and had people read it? You do it for the specific purpose of getting feedback, suggestions, etc. Why else would he have released this when its still in the planning stages? And doesn't he even get points for starting this early, and not on January 21st?

Common sense people. Don't run for the hills and burn your Obama campaign memorabilia over this yet. Calm the hell down for a couple of weeks.

Steve_in_CNJ · 10 months ago

that first-draft example doesn't inspire much confidence. there may be a wee problem if you have to shop your ideas around to the whole world before you submit the paper.

Milli · 10 months ago

When you're an elected official who campaigned on the promise of change and transparency in government, and you are crafting a plan that will directly affect the financial future of every citizen in this country, yes you do.

Akaison · 10 months ago

Listen, you are just making stuff up to make yourself feel better. Everytime Obama screws up something, your argument is put out there to explain it. Obama intends to screw up so that he can do "X" Obama choose Warren because he intended for their to be public outrage. Obama choose to say yes to FISA because he wanted us to fight against it. "See, he listened" This is just faith based analysis the same as what one could find from the Bush supporters. You are just creating a self reinforcing system in which everything Obama does is by design and is intended. Nothing is ever a result of him fuciking up. Under your world view there is no accountability because Obama intended this. o

My world view: Occam's Razor: the simple answer is that Obama is screwing up, and we need to hold him accountable.

Milli · 10 months ago

Obama isn't God, why are people are already tearing him down for NOT being God? Has anyone even looked at the FACTS and the actual LIMITATIONS that he has been faced with concerning the FISA bill, etc? Has anyone even listened to Obama's explanation of the economic plan he's floating? Its not concrete!! He welcomes suggestions!! He's testing the waters!! Oh my God what a horrible person!!

All I'm saying is to wait until the guy gets in office and has a concrete plan instead of freaking out about everything that doesn't fall into some liberal utopia that we thought would magically materialize once he was elected. Oh my God, Obama doesn't have all the answers yet - the sky is falling, the sky is falling!!! And I'm the one fooling myself and making stuff up?

Akaison · 10 months ago

Yes, your posts really are borderline delusional. Even your questions. Do you really think people are doing whaty ou describe? You have an almost seige mentality. This is getting pretty scary the number of people online I am seeing like you whenever Obama is criticized. Its' like you have your entire selves vested in believing that he is infalliable and that everyone is just being unfair and unable to be objective. that'sthe crazy part. The assumptions you make about others because they criticize obama. I doubt you even realize you are doing it.

Milli · 10 months ago

Uh, my entire "self" is not invested in Obama and I'm not delusional thank you very much..Obama pissed me off with the Warren decision and some of his cabinet picks have frankly sucked, but I'm not ready to start freaking out because of his proposed stimulus bill that exists on paper only - and no where near being finished. You are the ones who are freaking out that Obama is this great disappointment even though he's not in office yet. All I'm saying is to wait and see what he actually does before you start having heart attacks. Let Obama get the feedback from the public and experts from Krugman and see what he does with it. No, I am not some blind supporter who is crushed at the very thought of Obama being yelled at, I'm just trying to give the guy some freaking time and space before I adopt THIS mob mentality that he's already failed as a leader.

Akaison · 10 months ago

The torture logic of the true believers. They argue the same thing over Warren. When Warren blew up, they said, "The blowup was Obama's intent all along." This is circular logic. Obama is right because Obama can never be wrong. You are fighting a faith based community here as strong as that for Bush in 2001-2006. Facts are just play things to be spun.

KerrynowCampau · 10 months ago

Oh yes, by all means tax cuts

It has worked so well in the past

snark..........

RitornaVincitor · 10 months ago

Not good.

wearing out my F key · 10 months ago

how much money is it going to take to be "enough money"?

Older_Wiser · 10 months ago

I believe Stiglitz advised Obama during his campaign, but Obama, I believe, has chosen the wrong people for his admin--Geithner, Summers, who I really believe are not going to last very long. I know he's trying to sooth the mood of the country, but tax cuts are NOT the way to do it, and letting tax cuts on the wealthy play out won't either. Raise the percentage on corporations and the wealthy to at least 35% (and make those who pay nothing now pay big). Federal debt is getting totally out of control, and other countries that have traditionally loaned us money either won't be able to or will concentrate on shoring up their own economies. The Saudis may continue to buy up everything not nailed down at the same time they are cutting oil production. And corporations will continue to offshore their profits with a lack of action by Congress.

I truly believe that 8 yrs of Bush has bankrupted this country. Over $600 Billion is slated for the Pentagon this year (and where are the trillions missing?), and still we're vulnerable, esp. with all the profit making privatization (waste) under these conditions. So much money has been moved out of this country that there is nothing left for its ordinary citizens.

Might as well get it over with--the Bush Depression.

CDS2 · 10 months ago

Do you really believe that raising taxes during a recession on the people that create the jobs will solve any problems? Seems to me that if I owned a business and I was forced to give more of my money to the government, I would need to either raise my prices or cut my expenses....( employees) Both of which are bad for the economy..

Older_Wiser · 10 months ago

You're talking about the people who screwed all of us with their tax cuts and led us into this mess. Hell yes, tax them until they bleed so we can fund infrastructure. And small businesses in this area have been breaking even or failing for several years because if they're truly small businesses, they're just people like us, Main St., not Wall St.

CDS2 · 10 months ago

Well, there are certainly different ways to look at the possible solutions, but the USA already has the 3rd or 4th highest business taxes in the world....It their taxes are raised I would bet a lot more USA Co's will leave the USA for greener pastures.

Bush_Bites · 10 months ago

They never include the Value Added Taxes that European companies pay when they make those statements.

Additionally, a study came out not too long ago that said something like 66 percent of US businesses pay NO taxes because of loopholes and what not.

http://www.reuters.com/article/newsOne/idUSN124...

....so, you know, go to an impartial source when you hear something that sounds too crazy to be true, because it usually is.

CDS2 · 10 months ago

Well Bites, I had no reason to question the premise. I live in Wisconsin, one of the highest taxed states in the union, and I am watching as more and more co's leave because of taxes, and our govt. just gets bigger.

scottinsf · 10 months ago

"Do you really believe that raising taxes during a recession on the people that create the jobs will solve any problems?"

I do. Absolutely. These people have had substantial tax cuts under the republican regime. Including big capital gains cuts. How many decent jobs have they created? Tell me. These people have been hording their wealth at the expense of this country. They are systematically destroying the middle class. They want this country that way. Why the fuck do you think they have bankrupted it?

I've been railing on and on for years that the neocons and corporate whores want the power in this country like Mexico. Where the power, the money, and the government are all controlled by a small few and the rest don't get squat. Well here you go folks.

Bush_Bites · 10 months ago

Oh God.

I agree with a Wingnut Troll.

Must go pray........

Bubbles · 10 months ago

It tax cuts to these people worked, there wouldn't be a problem now, would there.

30 years of "Feed the rich, starve the poor" (and everyone and everything else) has simply got to be reversed.

The 20 or so odd years starting around 1942 the US's GNP trippled and during that whole time the tax at the highest bracket was 95%.

Since 1978 median wage has increased by only 50 cents, yet the GNP has more than doubled. That's trillions to the top 1%. Since Bush has been in office, as much as another 10 trillion dollars has been moved from the demand side to the supply side. To cover his tracks he used borrowed money supplement demand and GNP Growth. This has cratered real demand and the chickens have come home to roost. Concentrated wealth has caused almost every epic catastrophe in history from the current situation to the Great Depression, to the Russian Revolution all the way back to the fall of Rome and even beyond that.

2/3rds of the economy is driven by demand (consumer spending). Supply side economics is nothing more than pushing on a string.

Obama could tax the sh*t out of the wealth and corporations and it would have almost no effect at all on the economy at this time. Why? because the economy is demand driven and at this time demand is cratering.

paulbot5 · 10 months ago

The economists on the other side think were gonna have a depression to,hopefully people wont think we need another huge war to end it

Soundboy_jeff_meanie · 10 months ago

let's attack certain areas of Texas and Wyoming.

wearing out my F key · 10 months ago

"[T]his is our moment of truth. Will we in fact do what's necessary to prevent Great Depression II?"

what's necessary is for the government to write me a check for 900 gadzillion dollars... just write "cash" here... yeah, that's easier on everyone.... now endorse the the back... OK! that should do it. whew! disaster averted. and just in the nick of time.

Soundboy_jeff_meanie · 10 months ago

you're going to need a bodyguard when the check arrives... I'll only charge 1%.

wearing out my F key · 10 months ago

you're hired! see? we're already turning those job numbers around.

Webster · 10 months ago

Some of us have already learned that the depression is here.

Older_Wiser · 10 months ago

I agree. Incidentally, the only 2 categories of jobs that gained (45,000) in Dec. were in health care and education, but afraid that won't last, either.

Soundboy_jeff_meanie · 10 months ago

Speaking in the West Wing, Cheney defended the administration's handling of the economy, which has been in recession for more than a year. Regarding the collapse, he said "nobody anywhere was smart enough to figure it out."
http://blogs.usatoday.com/ondeadline/2009/01/ch...
---

I think its time to start burning effigies of this administration in THIS country... they started doing it in foreign countries 7 or 8 years ago.

It won't accomplish anything, but it'll give the growing numbers of unemployed people something to do... and keep them warm this winter.

adam · 10 months ago

Can't we admit once and for all that trickle down tax cuts are Republican code for "destroy the governmen.t" Don't give in to them. Their policies don't work. It should be evident. Don't include tax cuts to get Republicans on board. Period

SCLiberal · 10 months ago

If I were to get any kind of tax rebate it would go straight into my savings account, not into the economy. I don't believe I'm alone in this. Tax breaks and incentives are not an answer. They are merely an appeasement to Republicans. To repeat a previous rant, Why are the Democrats so concerned about what Republicans think? It's as if "Republican" is the default setting. For God's sake, push a progressive agenda and let the other party vote against it. Show them for the obstrutionists they are. Do it constantly and loudly. And why won't anyone on the Hill point out what is obvious to us all: Republicans pushed a bank bailout at warp speed with no oversight, no discussion, and no results—but they drag their feet when it comes to helping auto workers or the American public. Why won't any Democrat say that out loud?
How can these people be THAT afraid for their jobs? Hell, if they only get one term they still have a better "retirement" plan than most Americans have while they are still working.

cutepolishgirl · 10 months ago

Absolutely- the senate repubs had 8 years to try their thing and look at where we are now. I had hoped that Obama would be able to empower the rest of the Dems to tell the senators standing in the way of change to basically F-off. I agree- make a HUGE, in your face, publicity campaign on the individuals standing in the way of a stimulus plan that would actually work in relieving people's stress and burdens.

Rob Mule · 10 months ago

An underground intercontinental wide-body maglev rail would spur huge positive spillover nationally, regionally and locally for decades to come and would re-secure America's unbridled global leadership in technology, create massive employment and could be the greenest of the green projects...
Small-mindedness and catering to establishment prejudices didn't get Mr. Obama elected and will not make his presidency a great one.
PS to Team Obama: Urge the President-elect to grow a beard for the train ride to DC...If I was a little girl I'd write a letter urging a trim chunk of facial hair like the one sent to Mr. Lincoln. Certainly a small thing but it could further boost his global popularity and further dent radical Moslem propaganda...Plus, he'd look even more damn handsome!

Bush_Bites · 10 months ago

Just curious.

Why does it need to be underground?

Bubbles · 10 months ago

Let me take a guess, here. There's a lot of water between continents. Above the water are lots of storms, Maglevs's use lots of electricity, they would have to be left underground to stay safe and dry.

I like the idea, but it would cost trillions. But please make it wide-bodied, like double a normal trains with. Boston to Bristol or London at 200 or 300 mph would take twice as long as now - which as I recall is about 7 hours. From San Fran to Tokyo, Seoul, Beijing, Shanghai etc. takes 12 to 13 hours, so that would basically mean an entire day aboard that train. But a double wide could have a gym, saunas, baths, and sleeping cubes.

Bush_Bites · 10 months ago

Oh...."Intercontinental"

I thought he said "Transcontinental."

My mistake.

Rob Mule · 10 months ago

If a maglev traveled in a vacuum it would achieve tremendous supersonic speeds:
http://www.popsci.com/scitech/article/2004-04/t...

Indigo · 10 months ago

I don't buy into the notion that strategy should be built around preventing Great Depression #2. Folks, we're in it. I like to call it the Great Correction, but it's really 1929-1939 all over again. The correct strategy now is about managing the damage and shortening the time it takes for recovery. Nevermind "preventing" it, it's happening! Chatter about "preventing" a Great Depression is irrelevant, in fact, I'd go so far as to suggest it's reminiscent of the benign heckofajob attitude when Hurricane Katrina was churning ashore. It's too late.

CDS2 · 10 months ago

I think you are right on. We need to find a way out of this mess, 'cause we're already there. To my way of thinking more jobs is the answer. So, how do we create more jobs? Obama has the answer when he states that he wants to create (or save) 3 million jobs. Putting folks to work creates more Tax dollars. I don't believe he will be successful in creating jobs by increasing the Taxes on the people that create the jobs ! Wisconsin is a perfect example of high taxes driving business out of the state.

Bubbles · 10 months ago

The depression began in 1929, but the slide to the bottom was a long one - and not nearly as fast, I think as todays. The solutions didn't start coming until 1932 (at the earliest). In 1932 Japan was the first to start Keynesian policies, and was out of the great depression by 1933. By 1939 their industrial production had doubled, which gave them the confidence to think that they stood an even chance against a US that would have a two ocean war.

In 1933 Germany began Keynesian economics and was out of the depression by 1934, and had a labor shortage by 1936. In 1934 England implemented Keynesian economics and was out of the depression by 1935. Only in the U.S. did the depression labor on for another 5 years - because the solutions were too small and were half hearted.

So with events moving more quickly this time (in some cases, much more so), figure we're at the 1930 stage and by the time any program gets going we'll be well into 31/32 stages.

paulbe · 10 months ago

One cause of the Japanese getting a bit overexcited in the 1930s was they got this great manufacturing thing moving only to be slapped with trade barriers all around. They built it but no-one would let them sell it.

mexexpat · 10 months ago

Here is another inyeresting take by Peter Schiff, who has proven his credibility from past predictions

http://www.prisonplanet.com/peter-schiff-compar...

Bubbles · 10 months ago

Standard Austrian School of Economics stuff: Government isn't the solution, government is the problem. To Austrian school everything works out in the long run. So, He offers no solution because his school doesn't address the subject. The reason Keynes is so important now is that he addressed this. To Keynes, in the long run were all dead. Krugman was blowing some of the same whistles when this guy was, so in that sense he's got nothing on Krugman, but Krugman is a Keynesians, and people from his school are thinking about solutions, and in many nations, Japan, Germany and England, Keynesian policies worked in short order. That doesn't mean that they will now, but history is the only lab available to the social sciences, so there you have it.

CDS2 · 10 months ago

WOW....time to buy Gold.

Check it out ! · 10 months ago

Interesting, but can you tell me if Ken Littleton is the person who is responsible for the murder of Martha Moxley?

Kennedy cousin Michael Skakel’s lawyers have filed a new appeal of his murder conviction, claiming that police and prosecutors failed to provide Skakel with evidence pointing to another suspect and discrediting a key state witness.

I think that news of a potentially innocent person rotting on jail takes precedent -hope you don't mind.

http://surftofind.com/ken

Jason · 10 months ago

When is someone gonna get a clue?

John and so many others who post on this site have, for weeks/months, been ignoring the reality of this situation. Not too long ago, John and others acted "hopeful", as if they had no idea of the gravity of this situation. People like me have been bitching for YEARS about this problem. So has Ron Paul and many others. This is a complete economic collapse, brought about by mostly baby boomers and yuppies, and it will result in a complete collapse of our society within the first Obama administration. You are not gonna recognize this place in just a few months. This is only the beginning of the first inning of a long double-header, and there is nothing that is going to reverse it. Not even a war, which is the only way anyone ever got "out" of a depression in the past, can save America. The United States will not exist in just a few years, and the entire planet is in complete peril on all fronts. We have played around too long, and now everyone is caught with their pants down. Those of us who have been saving our money, storing gold, storing food/water/meds, building a plan to survive the worst conditions we can imagine, continue to shake our heads at the collective ignorance and foolishness, especially of those on the Left (of whom I am a part...I'm a gay guy from Illinois and a major liberal) who have laughed at Ron Paul and Peter Schiff and Ross Perot and those who advocate savings instead of consumption. I can't wait to compare this post with those in March or June of 2009. How many more days will you waste? How many more signs/wonders do you need to see before you begin to act?

You were warned too many times. Your laughter has turned to tears and you want everyone to forget how foolish you were when you could have done something. Obama's distinction (I voted for him...went to the rally in Chicago on election night to celebrate) will be that he is a bigger spender and waster than even George W. Bush. Look at who he has asked to be in his Cabinet...same folks who got us in this mess. You reap what you sow, people. In the meantime, I'm gettin' ready. Hope you are too. It's coming.

Jay · 10 months ago

Well, let's all commit suicide now, shall we?

Milli · 10 months ago

Have you been listening to Coast to Coast AM too much?

AngelaChanning · 10 months ago

I may not be a Nobel winning economist but some of this strikes me as fear mongering. Jesus H. Christ, no legislation has been passed yet and already we are tossing about the Great Depression language. Krugman might be right and I will be giving 50 cent blow jobs on Pulaski Hwy. Even Dr. Doom is only saying the recession will last until 2010 and we will start to see a turnaround.

What gets passed will probably be much different from what is being proposed right now. I might be very wrong but I do remember all the Y2K gloom and doom and look what happened. I am not saying it will be as simple as that but it is likely we will have a bad 2009 and then things will turn around.

Thank you for listening.

Milli · 10 months ago

I totally agree. Obama isn't even in office and he's getting crucified for wrongs he hasn't even committed.

MikeinSanJo · 10 months ago

That Krugman's a smart cookie. One of my favorite guests on Rachel Maddow, Matthews, and Countdown. Unfortunately, he's also a little depressing - usually cuz he's telling the truth.

To close a gap of more than $2 trillion — possibly a lot more, if the budget office projections turn out to be too optimistic — Mr. Obama offers a $775 billion plan. And that’s not enough....

WHAT?!? $775b does NOT equal $2 Trillion?

paulbe · 10 months ago

No stimulus plan can undo whats been done. Its easy to blame the Bush years, and that's undoubtedly when it really got away, but the seeds for this were sown many years before. Nixon and the dumping of the gold standard comes to mind as an important milestone.

Rufus · 10 months ago

Give every American (approx 304.5 M of us) a check for $500K on the condition we buy a new car (foreign or domestic) and use the remaining $460K to buy a primary or vacation home. I was going to hold back my solution until you'all appointed me King of the U.S., but situation demands quick action. A free tip: Buy stock in the company that makes the paper for the U.S. Treasury.

Chit · 10 months ago

Obama is basically behaving like Bush 3 in his policies. Maybe the President knows something we don't and Bush really was doing an OK job. I mean, if it was so terrible, why isn't Obama immediately doing all the things he said he'd do, like immediately pull from Iraq, raise taxes, reduce the deficit, etc. I guess once he actually got the lay of the land Obama realized the reality of the office.

Heathwood · 10 months ago

Why the concern on whether we call it a recession or a depression? The facts are what they are, the economy is in trouble. Being able to create demand in an economy has been the fallacy of the supply siders...if you sell it they will buy it. The extraordinary leap in technology may be the cause for the consumer taking a break. How many computers do you really need? How many cars do you need and how often do you need to buy a new one?
The economy runs on money flow. However it happens, spending is the only way to get out of these tough times. Will it cause problems for the future? Probably, but economies live in the here and now. So be prepared for lower wages, higher prices for the near future.

Nick · 10 months ago

Hey Paul -- Hillary lost. Get over it. You're a goddam Chicken Little and it's time to find a new schtick. Hey John -- Rick Warren is still giving the invocation. You too. We know things are terrible. But for Christ's sake -- can people STFU about Obama's "failures" given that it's freaking January 10?