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Monday, September 20, 2010

Obama - Recession is Over

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Obama colleagues walk fine line: 'Recession is over,' but unemployment is still above 10%
BY Thomas M. Defrank

Monday, December 14th 2009, 11:37 AM
WASHINGTON - The recession is dead! Long live the recession!

Those were the conflicting messages delivered this weekend by Obama administration colleagues trying to thread the needle of giving their boss credit for reversing last fall's financial meltdown while acknowledging there's little to cheer about with unemployment still above 10%.

"Today, everybody agrees that the recession is over, and the question is what the pace of the expansion is going to be," Larry Summers, President Obama's chief economic guru, declared on ABC's "This Week."

Obama is right. The recession is over. The situation you find yourself in now is the new American economy. You will have to make adjustments. You family might need to learn how to grow their own food. Fig. 1. You might need them to start working at an earlier age. Fig. 2. You might have to work past retirement age. Fig. 3. You might need to dump non productive members of your family. Fig. 4. You might have to think 'outside the box' on ways to supplement your income and to cope with the new economy. Fig. 5.

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