He talks about getting credit flowing again and transparency and acting responsibly. Yeah!
This morning I’d like to talk about some good news and some bad news as we confront our economic crisis.
The bad news is well known to Americans across our country as we continue to struggle through unprecedented economic turmoil. Yesterday we learned that our economy shrank by nearly 4 percent from October through December. That decline was the largest in over a quarter century, and it underscores the seriousness of the economic crisis that my administration found when we took office.
Already the slowdown has cost us tens of thousands of jobs in January alone. And the picture is likely to get worse before it gets better.
Corporate welfare never really seems to trickle down to the taxpayer does it? Look at the NW Natural pipeline and the freedom it enjoys from paying taxes thanks to Whitty, Roblan and others… how many jobs have been created as a result of that largesse?
Humm, as long as businesses can suck public funds to “improve” their own businesses, they don’t mind , huh?
I wouldn’t know about a business ‘taking’ welfare from tax dollars, I always paid my OWN way in life.
What is bad news is that absent the economy’s ability to inflate its way out of market failure and with negative equity tying up credit markets, no one can raise capital to conduct commerce or provide jobs. As go jobs so goes the tax base and the minimum public services required to maintain commerce or fuel any economy at all.
For survivalists happy to live in the woods and off the land it means nothing but to those with an appetite for pork and bratwurst and broadband it could spell disaster or at least a diet.
Mary, the economy is a fantasy bubble like the housing market.
Why is it bad news for the economy and housing costs to settle towards realistic levels?