The White House on Thursday provided a bleak economic forecast in an annual report to Congress, predicting high unemployment even as companies stop shedding jobs and blaming the Bush administration for steep federal deficits and for the policies that led to the financial market collapse.
The administration's Council of Economic Advisers said the economy will grow by 3 percent but that the unemployment rate could climb back above the current 9.7 percent rate, reaffirming the somber outlook that accompanied President Obama's fiscal 2011 budget.
In a letter attached to the 462-page report, Mr. Obama touted his efforts to counter the recession, saying last year's stimulus package helped the nation avert an economic catastrophe, and he called for Congress to act on his proposals for a jobs spending bill and an overhaul of the financial regulatory system.
Republicans were quick to criticize the report, which they said contained little substance.
"The Obama administration's report is full of blame for the policies of the past, praise for its own failed policies, and promises about their ideological agenda to grow government. Cutting beyond the fluff, the truth that unemployment won't fall back to its 2008 level for another seven years shows up on page 75," House Republican Whip Eric Cantor said.
9 comments:
Blames Bush and then Biden takes credit for success in Iraq !
This guy (Obama) actually beleives he's doing a good job too.
What a looser!
they blamed 9/11 on bush after 8 months in office but clinton had 8 years of knowledge about alquedia and did nothing.Obama is using the same exact strategy in iraq and afganastain and takes credit for success but will not take responsability for any of the failures he has put in place talk about a "teflon don '
obama is doing a great job! He is still in charge and the dollar is headed towards collaspe day by day. Not a easy task-collaspe the $ and cpitalism and hold on to power while you do it. What would you have done differently if that was your objective at this point?
The question is what has Obama DONE ?
Clearly he should have focused on the economy instead of his health care legacy which just proves how out of touch and not ready to lead he is .
For those old enough to remember, as the saying on a tee shirt said about obummer, welcome back carter.
Carter likes Obama-- it means he is no longer considered the worst president ever.
Several of my "liberal" acquaintances seem to think Obama is doing a fabulous job for our country and if you say anything to them any different, their feathers ruffle and they go into a frenzy. They are totally in denial and clueless!
Obama needs to step down from his throne and meet the real people and forget about what HE want's and listen to us!
Only thing good I can think of is..
I bought a 6 pack of beer and drank it OBAMA self!
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