Worst yet to come: Lawrence Summers says

I think this admin is talking WAY too much.

Without the public's approval, they were going to pass that very large "stimulus" package. It's just what they planned to do. So, to get people on board, Obama and friends stated that we were in the WORST situation since the Great Depression, and if they passed this bill through with all the trimmings, the economy would see an immediate "jumpstart," unemployment would stop, and we'd start to level out -- immediately. Of course, complete recovery would be an uphill battle.

Not only did the economy not level off, but it got worse. Now they scream, "It was worse than we thought." How? How it it WORSE than the Great Depression? Any American can look around and tell that we're nowhere near the Great Depression. So why must they continue to feed us the doom and gloom?

It didn't work like they planned. So what. The money's gone -- the taxpayers will never see it again. So at least they should own up now. Instead, they keep beating the broken drum about how we're still all doomed unless we do exactly what they say. Maybe it will eventually work, but the constant talking about how bad it is doesn't help. At the very least, it's our elected officials--supposedly FIT to do the job--making excuses.

It depresses me to hear that the worst is not even here yet. Of course, I could live with that if they didn't feed me the rhetoric about trillions of dollars on my children's dime saving us all.

The mess we're in now was a long, long time coming. A LOT of people are to blame! But that's moot. I'd like to see this current admin swallow their pride, admit that they may need to take a new approach, and STOP with the "we're all doomed unless..." rhetoric.

They're trying to keep favor with the public. Right away, that should stand out as false. If you're doing the right thing, people don't have to love you for it. You don't need to be showered in affection for doing what you're supposed to do. It seems to me like these guys in office now--both sides!--are running for reelection ALREADY instead of fixing what's wrong.

Zip those lips, get to work, fix the country.

Politicians are politicians because they are self-opinionated, loud-mouthed and pompous. They also like to hear the sound of their own voices and see their words written in bold print in the news papers. I agree with you when they make a statement that sends people panicking all over the world and then they usually deny it saying that they have been misquoted.Nowadays this tribe is only concerned in filling their own pockets rather than doing the job for which they have been elected to do.It is time they understood what damage their words can do to people not only in their own country but also in other parts of the world.

I sometimes wonder if those big mouths are not kept shut intentionally. Propaganda goes a long way and they know once the media gets hold of something like that the public panic will amp into overdrive.

While I appreciate being told the facts, any time the president opens his mouth it seems the stock market plunges. I wish he would shut up. His policies have no chance of working, as I see it. When has any person or entity been able to be economically healthy by trying to borrow their way out of debt?! It makes no sense to me. I think my country (the U.S.) is just digging itself in deeper and may never recover.

Lawrence Summers, the great economic advisor says much on recession which is going on as it is great problem for all people . they also said that whatever goes in the past is nothing much serious . as problem is coming else. worse is yet to come . people are in great tension as everyday people loosing jobs, it all leads to poverty and unemployment.

Air Force One is flying with the same regularity, perhaps more. Other world leaders are buying newer airplanes and naming them crazily, ever more. Oil price rise or not so, the politicians and these so called economic experts are meeting in salubrious environs ever more frequently to discuss the shambles the world economy finds itself. What is even worse, the common (wo)man in any country finds himself/herself in bigger tangle compared to ever before, in spite of these goings on.


Just mouthing a few lewd cliches is not going to do any good unto anyone. So called solid action by the Heads of State will also bear no fruits. What is needed is that those CEOs and Chairmen and their unconcerned cronies who had got used to fat salaries and fatter bonuses must move out of their plush houses, cars and offices and feel the pain of common man, that is if they can get down to the level of the common man to feel his pain.


Having made huge profits over long years, it is now their payback time. If there is any humanity left amongst them, they MUST then bear to hear the truth (in Rudyard Kipling's famous words) and take concrete steps in the right direction. Governmental Bail outs are not going to help, as we have seen.