Sunday, July 19, 2009

Peter Orszag On Fox News Sunday "Economy Worse Than We Thought" (Video)

Obama's budget director echoes Joe Biden's statement last week. Hey, when it doubt, blame Bush!

Is anyone else thinking that maybe this administration should get it facts straight before rushing to pass bogus legislation which mortgages our future and leads us down the path towards socialism? Or worse?

He did say though, there is hope in the future:

Orszag: Economy slowly improving

Orszag sees signs that the economy is beginning to improve, even as the unemployment rate grew beyond the administration's initial estimates.

The "sense of panic and fear" in the financial markets has dissipated, said Orszag, and the second quarter GDP numbers are likely to improve from the first quarter. The economy will start to recover at the end of the year, but unemployment will remain high, he said.

"Mixed messages are part of what happens during these kinds of periods," he said. "This took a while to build up it's going to take a while to get out of it."

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