Obama and his cohorts — like Paulson, now replaced at Treasury by Timothy Geithner, another investment-bank rent boy — have not only failed in their approach to the recession, but they may be the architects of an economic calamity more painful than the Great Depression when all is said and done. – American Thinker

 

By Bernie Reeves at American Thinker

Obama’s claim on 60 Minutes that Paulson’s policies averted another Great Depression is ominously premature.  Big-bank economists and government policy wonks do not understand the U.S. economy — that all new jobs are created by the small business sector.  After three years of pain and suffering, someone saw the light, and Obama set out in 2011 to claim that he is now pushing small business recovery to create jobs.  Yet his approach widely misses the mark by proposing federal money to create bogus “green energy” firms (like Solyndra) or the pitiful and outdated plan to rebuild the nation’s infrastructure and dump billions into high-speed rail transit.

 

The European Union debt crisis is just one of the continuing manifestations of the global economic crisis set off by the American financial scandal.  Add in the inability of real estate values in the U.S. to recover, and unemployment figures that boggle the mind, and the worst is yet to come.

 

FULL ARTICLE

Help Make A Difference By Sharing These Articles On Facebook, Twitter And Elsewhere:

• 
• 
• 
• 
• 
• 
• 
• 
• 
• 
• 
• 
• 
• 
• 
•