Saturday, March 14, 2009

Seeing Through Obama: The Whole World Must Be Drunk

ObamaFrom a transcript of President Obama’s Friday March 13, 2009 press event with Paul Volcker on the economy the following point was made.

But if we are — if we are keeping focused on all the fundamentally sound aspects of our economy, all the outstanding companies, workers, all the innovation and dynamism in this economy, then we’re going to get through this. And I’m very confident about that.

All right? Thank you, guys. Appreciate it. Have a good weekend.

END 1:38 P.M. EDT

bushIn January 2009 after President George W Bush’s last State of the Union Address reports on the event included the President’s statement that economic fundamentals were strong. He was criticized for this appraisal and accused of being out of touch.

Mr Bush also sought to calm Americans’ fears about the troubled economy, while charting a course he hopes will keep him relevant in his final year in office.

He acknowledged that growth was slowing but insisted that the country’s long-term economic fundamentals were sound.

And he prodded Congress to act quickly on a $US150 billion ($169 billion) economic stimulus package laid out out last week.

mccainDuring the 2008 Presidential campaign after the field was reduced to the two major party nominees Barack Obama attacked John McCain on his insistance the econommic fundamentals were strong.

McCain says economic ‘fundamentals’ strong, Obama attacks

Sep 15, 2008

ORLANDO, Florida (AFP) — John McCain Monday insisted US economic “fundamentals” were strong despite a banking crisis and Wall Street meltdown, prompting a scathing rebuke from his White House foe Barack Obama.

John McCain said the economic fundamentals of the US were strong and Barack Obama pounced. President Bush made a similar statement in his last State of the Union speech and the President’s opposition pounced. This week President Obama states the fundamentals are strong and what happens? Nothing. A scan of news sources suggests most media outlets are saying Obama calls for a return to economic fundamentals. The whole world must be drunk.

Stanford Matthews

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