When the newly elected CEO of USA Economy says Worsening Economy – it sends out alarming signals.
Wired PR News.com – President Elect Barack Obama appeared on Sunday’s episode of NBC’s “Meet the Press,” and forewarned the country that the current challenges of the economy would likely worsen before things drastically improved.
As reported by POLITICO, Obama stated “If you look at the unemployment numbers that came out yesterday, if you think about almost 2 million jobs lost so far, if you think about the fragility of the financial system and the fact that it is now a global financial system so that what happens in Thailand or Russia can have an impact here, and obviously what happens on Wall Street has an impact worldwide, when you think about the structural problems that we already had in the economy before the financial crisis, this is a big problem, and it’s going to get worse.”
Obama further spoke of the current Bush administration being slow to act regarding providing mortgage relief to homeowners, which he regarded as an urgent issue, as well as re-examining tax increase proposals for those making $250,000 per year. The President Elect discussed with Tom Brokaw several important issues throughout the broadcast, but placed the heaviest emphasis on those related to the economy.