CHESSNOID

I prefer to know the truth even if it may not be what I would like to hear.  The recent news that President Obama acknowledging that we will be in a recession for awhile longer is what the American people need to hear so they can prepare themselves accordingly.

WASHINGTON (Reuters) –

President Barack Obama warned on Saturday it would take “many more months” for the United States to get out of recession even after GDP figures showed the economy shrank only modestly in the second quarter.

Obama, who has defended his young administration’s economic policies in recent weeks in the face of worsening unemployment numbers, said jobless figures next week would still show that too many Americans were losing work.

“It will take many more months to fully dig ourselves out of a recession – a recession that we’ve now learned was even deeper than anyone thought,” the president said in his weekly radio and Internet address.

“And when we receive our monthly job report next week, it is likely to show that we are continuing to lose far too many jobs in this country. As far as I’m concerned, we will not have a recovery as long as we keep losing jobs,” he said.

When times are tough, people spend less and save more and try to make their money go farther.   That is just common sense.  Ironically, the Obama administration is doing the opposite on a national level.

Many people were aware of how bad this recession is and how much worse it will get.  There were many economist telling the Obama administration how deep this recession would become and it is disingenuous for him to say it was unforeseeable. Hogwash!

They are spending money we don’t have and putting us in even bigger deficits.  Deficits bigger than even Bush put us in.  The Obama administration has decided fiscal responsibility is unnecessary.