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Old 07-14-2010, 04:01 PM
 
69,368 posts, read 64,156,622 times
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Fed Warns Economy May Take Five or Six Years to Recover

Federal Reserve officials now fear that the U.S. economy will take at least five or six years to fully recover from the biggest economic downturn since the Great Depression

Fed officials also trimmed their forecasts for growth this year to a range of between 3 percent and 3.5 percent from the 3.2 percent to 3.7 percent they projected in May.

Someone remind me again how much of this growth is GOVERNMENT growth?
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Old 07-14-2010, 04:06 PM
 
Location: Columbus
4,877 posts, read 4,510,963 times
Reputation: 1450
Quote:
Originally Posted by pghquest View Post
Fed Warns Economy May Take Five or Six Years to Recover

Federal Reserve officials now fear that the U.S. economy will take at least five or six years to fully recover from the biggest economic downturn since the Great Depression

Fed officials also trimmed their forecasts for growth this year to a range of between 3 percent and 3.5 percent from the 3.2 percent to 3.7 percent they projected in May.

Someone remind me again how much of this growth is GOVERNMENT growth?
It's no surprise. Anyone that listened to Obama during the campaign should have figured he would be a disaster economically.
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Old 07-14-2010, 04:12 PM
YAZ
 
Location: Phoenix,AZ
7,708 posts, read 14,096,870 times
Reputation: 7045
Don't let our wonderful Congress off the hook.
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Old 07-14-2010, 04:25 PM
 
Location: Redondo Beach, CA
7,835 posts, read 8,446,608 times
Reputation: 8564
How long do you suppose it would have taken to recover under John McCain and Sarah Palin?
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Old 07-14-2010, 04:46 PM
 
Location: Earth
24,620 posts, read 28,300,913 times
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After the R's took 8 years to completely destroy it?
That's no time at all.
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Old 07-14-2010, 04:54 PM
 
1,461 posts, read 1,530,436 times
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It took the GOP 8 years to wreck it and it will take that long to fix.
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Old 07-14-2010, 04:55 PM
 
Location: Wichita,Kansas
2,732 posts, read 6,770,032 times
Reputation: 1371
Quote:
Originally Posted by chielgirl View Post
After the R's took 8 years to completely destroy it?
That's no time at all.
The Dems have had control for quite a few years before Obama got..
Elected.However theres plenty of blame to go around for both parties.
Not to mention greed,people living beyond their means,etc that..
Caused this mess.
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Old 07-14-2010, 04:56 PM
 
Location: AZ
2,096 posts, read 3,812,472 times
Reputation: 3749
Quote:
Originally Posted by chielgirl View Post
After the R's took 8 years to completely destroy it?
That's no time at all.

Ahhh..I see you're following the Democratic handbook right to a tee. When all else fails Blame the other party!! Guess you forgot that since the Dems. took control of congress in '06 the countries gone on a downward spiral. This MESS was caused mainly from the financial industry and do I need to remind you who was in charge of that too? Psst..Christopher Dodd(D) Actually goes even farther back to Clinton and Ted Kennedy wanting to give low income people housing, but I'm sure you already knew that!
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Old 07-14-2010, 05:00 PM
 
3,767 posts, read 4,533,385 times
Reputation: 1395
The sad truth is that Obama has absolutely no idea how to "fix" the economy. Shameful. The left wanted a smooth-talking mouth piece and they got him.
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Old 07-14-2010, 05:00 PM
 
Location: Columbia, SC
37,195 posts, read 19,241,897 times
Reputation: 14920
Quote:
Originally Posted by pghquest View Post
Fed Warns Economy May Take Five or Six Years to Recover

Federal Reserve officials now fear that the U.S. economy will take at least five or six years to fully recover from the biggest economic downturn since the Great Depression
If this is true, it sounds like it's time to invest with payday or car title lending firms or some other company run by predatory bloodsuckers.

They'll have a field day if the economy doesn't perk up.
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