Obama warns of millions of job losses in weekly radio address

President President Elect Barack Obama has warned of the perils of a deflationary spiral that could bring job losses in the millions. There is plenty of meat in his weekly radio address, and a lot to be concerned with as the economic situation seems to worsen. I am encouraged by the potential for aid to the states that could not only serve as a jobs program, but would have the added benefit of helping to repair our crumbling infrastructure. Plenty of critics out there, but Obama is hitting the right points here.

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3 Responses to Obama warns of millions of job losses in weekly radio address

  1. ben nevis says:

    I hate to be so picky Mr. Mayor, but it’s President-Elect Barack Obama. You’ll have to wait till Jan. 20 to call him President.

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  2. Bill Manzi says:

    Sorry about that. I stand corrected!

    Like

  3. Jules Gordon says:

    Your Honor,

    The President-elect must be careful here.

    Too many dire warnings can generate its own self fulfilling prophecy by discouraging spending, expanding the downturn.

    I hope Obama does not use the Roosevelt model in this situation as that model did not end the depression. It was world War 2. Weapons manufacturing to serve the war and pent up consumerism that occurred when our troops came home that kept people working for years.

    I am of the belief that a free market place is the most effective tool to getting back on track. The Government cannot improve the economy, but can only encourage the private sector through effective tax and regulation policy. (If that scares you, it should).

    I assume that Obama, by his own words, will try to pull us out of the doldrums through public works (second millennium version of the WPA) and investment (tax) in education. “More Government” will be a further disaster for the teaching our children without one cent benefit to any recovery recovery.

    I plan to sit back and wait for him to apply the plan yet to be developed.

    I judge the new president as a pragmatist, as shown by his cabinet picks, but I worry about his Socialist beliefs overcoming capitalism.The government cannot tell me what kind of car to buy.

    I appreciate he realizes this is a long term thing, but I wonder if two years is enough.

    Jules

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