nytimes.com - 11/22/2008
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Following is a transcript of President-elect Barack Obama ’s radio address for Saturday, Nov. 22, as released by the president-elect’s office. Good morning. The news this week has only reinforced the fact that we are facing an economic crisis of historic proportions. Financial markets faced more ...
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OBAMA'S ECONOMIC PLAN IS DOA ...
THE ASTUTE BLOGGERS —
... OR (SINCE HE HASN'T EVEN BEEN INAUGURATED YET) DEAD BEFORE ARRIVAL. HE PROMISES 2.5 MILLION JOBS BY 2011. THAT'S OVER HIS FIRST TWO YEARS. THAT'S 24 MONTHS. THAT FALLS SHORT. WAY SHORT. BECAUSE WE NEED TO CREATE 250,000/MONTH TO STAY EVEN. THAT'S 3 MILLION PER YEAR OR 6 MILLION BY THE START OF 2011. IF WE WANT TO KEEP UNEMPLOYMENT AT TODAY'S LEVEL. IF THE US ECONOMY ONLY CREATES 2.5 MILLION JOBS BY 2011, THEN UNEMPLOYMENT WILL HAVE CONTINUED TO RISE BY 200,000 ...
The New New Deal: Relief, Recovery And Reform
TalkLeft —
On November 22, in his weekly radio address, President-Elect Obama said: The news this week has only reinforced the fact that we are facing an economic crisis of historic proportions. Financial markets faced more turmoil. New home purchases in October were the lowest in half a century. 540,000 more jobless claims were filed last week, the highest in 18 years. And we now risk falling into a deflationary spiral that could increase our massive debt even further. . . . I have already directed my economic team to come up with an ...
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