U.S. unemployment will surge to 10 percent this year and the budget deficit will be $1.5 trillion next year, both higher than previous Obama administration forecasts because of a recession that was deeper and longer than expected, White House budget chief Peter Orszag said.
Wasn’t it just last week that we were told the economy is coming out of recession???? LOL! Economic and political leaders have *no* idea what they are doing or saying.
Welcome to Jimmy Carter and the 1970s all over again. Interestingly, that is when Obama grew up and developed his ideas. I don’t know if there is a name for it, but it seems leaders of most institutions always want to make things like they were when they first entered said institution. Perhaps this explains Obama’s bizarre support for the Equal Rights Amendment??
The only shining light in all of this is after Jimmy Carter came Ronald Reagan.