Let’s review this week:
By Daniel at 18 July, 2009, 7:04 pm
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The State of California is still bankrupt and IOUs are pouring out of it with no end in sight.
CIT is now on the verge of bankruptcy with no rescue likely.
GM and Chrysler sales are continuing to plunge like a rock.
Unemployment has now broken records in states all over the US and is getting worse daily.
The Federal government deficit will not top at least $1.8 trillion this year and likely go over $2 trillion, and already reached $1.1 trillion this year.
Foreclosures hit new record levels all across the country even as banks are doing everything they can to delay foreclosures to goose the numbers and play the government game of not foreclosing while they waste time on hopeless mortgage modifications.
Obama now wants to increase medical costs and federal spending by at least another $1 trillion by trying to push through a health care bill that would wreck health care in the US and jack up the costs for everybody, and earnings were plunging for all major companies except the investment banks. And on and on and on.
THIS OBAMA ECONOMIC MIRACLE STIMULUS AND RECOVERY SURE IS SOMETHING, AIN’T IT? Just imagine what would have happened if we cut the spending, paid down the debt, and started prosecuting the criminals and done all the other right things. Sure glad we didn’t do any of that now that prosperity isn’t just around the corner, no-sir-ee, PROSPERITY IS HERE INSTANTLY TODAY!
Originally From AP
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