An Economic Time-Bomb Being Mishandled by the Obama Administration?

In a word, “Yes.” Like most politicians, the Obamessiah is more concerned with the adoration of his followers than anything else. Flowery speech, empty rhetoric and meaningless platitudes are the order of the day. Obama has said “we can’t continue to kick this can down the road,” but that’s exactly what they are doing, and someday, someone is going have to pay for it.

From Politics Daily:

Is there a ticking time-bomb for the US economy? And is the Obama administration, Congress, and the media not paying it sufficient attention? That seems to be the message of a government report released this week that drew not as much notice as it deserves.

This is all about those toxic assets–now euphemistically referred to by the US government as “legacy assets”–that were at the core of the economic meltdown. Though some economic news of late has been not so bad–economic contraction slowing, job losses leveling off, banks passing stress tests–these toxic assets still pollute the nation’s financial system and endanger it.

Read the rest:
http://www.politicsdaily.com/2009/08/12/an-economic-time-bomb-being-mishandled-by-the-obama-administrati/

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