Submitted By Todd on January 8th at 4:30pm
the end of America.
"I don't believe it's too late to change course, but it will be if we don't take dramatic action as soon as possible. If nothing is done, this recession could linger for years. The unemployment rate could reach double digits. Our economy could fall $1 trillion short of its full capacity, which translates into more than $12,000 in lost income for a family of four. We could lose a generation of potential and promise, as more young Americans are forced to forgo dreams of college or the chance to train for the jobs of the future. And our nation could lose the competitive edge that has served as a foundation for our strength and standing in the world. "In short, a bad situation could become dramatically worse."Notice the use of the word "could." Which, by definition, also means "might not." Here is the certainty:
"There is no doubt that the cost of this plan will be considerable. It will certainly add to the budget deficit in the short-term."The short-term? Yesterday, Barack warned of a long, painful period of digging out.
Mr. Obama was just leveling with the American people when he noted yesterday that the country faces "trillion-dollar deficits for years to come" unless policymakers "make a change in the way that Washington does business." The question, of course, is how to change.