I am pretty sure just the other day that I heard President Obama proclaim this is "recovery summer". I will grant him the caveat that he said it would take some time...
Today we got some news on the economy: I'm reading Yahoo Finance and the Wall Street Journal here regarding homebuyers and companies cutting back on spending. What that means is no tax income for states and the federal government. It also means, no hiring. Also, home sales were at a 15 year low or something like that yesterday. Stocks are taking a free fall.
Calling this "recovery summer" was probably a bit too presumptious on the President's part.
No comments:
Post a Comment