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> Second Recession Or Worse?!, Fed and white house out of options
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Patch 
Posted: 04-Aug-2011, 01:40 PM
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The United States has a jobs problem and there's not a lot obama or Fed Chairman can do about it.

In the face of the risk of a recession that could imperil the economy and his reelection chances next year, obama wants congress to extend a payroll tax cut and emergency unemployment benefits that are due to expire in December.

However the R controlled house is emboldened by budget concessions it made Obama accept to lift the country's debt limit this week and he has little political leverage to win significant fresh spending to aid growth if that even would do so.

Speaking of the fed and the white house, when you only have a hammer as a tool, every thing begins to look like a nail!!!

Obama may have "expected the R's to ride in the back of the car." Now the D's are driving the car off the cliff. Much worse than running it in the ditch as he charged the R's with doing!

Will Rogers commented that "taxes were cheap admission to the greatest comedy in the world, watching your government in action!!!"

Slàinte,

Patch
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