Recession Worse Than Prior Estimates

[LuckyTheDog]

OK... so when the White House officials said the economy turned out to be worse than the experts told them, the officials were telling the truth. The issue now is what we should do about it. I expect one side of the aisle in Congress to concentrate on using this information to undermine the president and produce as much gridlock as possible. I hope I am wrong and that they can resist the temptation. We have a real crisis here. It's time to pull together.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aNivTjr852TI

The first 12 months of the U.S. recession saw the economy shrink more than twice as much as previously estimated, reflecting even bigger declines in consumer spending and housing, revised figures showed.

[Warpy]

1. Captain Obvious strikes again

They should have simply asked us instead of sitting around in dusty groups, taking the word of Stupid's administration that while the Dow was above 10,000, all was right with the economy.

Every single thing that is wrong with our economy can be tied to several things: loss of decent jobs, depressed wages on the remaining jobs, high taxes on working people, and low taxes on extreme wealth. It's given us an economy supported by nothing but debt and wishful thinking and the bill for that debt is now falling due.

Until those four basic problems in our economy are addressed, the economy will continue to tank.