Obama forgets the magnitude of the recession

ScreamingEagle · May 11, 2012

[ame=http://www.youtube.com/watch?v=E-35SB3eaNc]Forgetting the Recession? - YouTube[/ame]

...party on bro....

GOP rips Obama on 'forgetting' recession

Katzndogz · May 11, 2012

Watch obama say that Romney is out of touch.

Claudette · May 11, 2012

I don't think Barry really gives a shit.

He's in love with being POTUS but I doubt he gives a rats ass about the recession, the economy or UE.

He thinks his pretty speechs are still enough to get him that second term.

I think he's in for one rude awakening come Nov.

Papageorgio · May 11, 2012

Claudette,

It worked before, he thinks the American people are stupid enough for it to work again.

Claudette · May 11, 2012

Papageorgio said: ↑

Claudette,

It worked before, he thinks the American people are stupid enough for it to work again.
Click to expand...

LOL Sorry to say it but there are some out there who still think he walks on water.

I guess they've been asleep for the last three years.

waltky · May 15, 2012

Thanks, Wall Street...

Recession added debt, drained families' savings
11 May`12 - The economy may be improving but many American families are still weighed down by debt and without a safety net.

One out of five families owes more on credit cards, medical bills, student loans and other unsecured debt than they have in savings, according to a new University of Michigan report. And the number of families surveyed at the end of 2011 that have no savings at all increased to 23.4%, compared with 18.5% in 2009. "The people who were down and out, without much money, in the recession have ended up staying there or even worse," says Frank Stafford, professor of economics at University of Michigan Institute for Social Research and co-author of the report.

And the mortgage crisis is not over. Among homeowners, 1.7% said that they expect to fall behind on their mortgage payments in the near future. At least that is slightly less than in 2009, when 1.9% expected to run into mortgage problems. At a time many Americans are trying to claw their way out of debt, they have no emergency fund and little or no retirement savings. Sixty percent of workers say that the value of their savings and investments is less than $25,000, according to EBRI's 2012 Retirement Confidence Survey. And retirement confidence is at historically low levels.

American workers who went through long spells of unemployment often have had to drain their savings. Many cashed in their retirement savings to help them keep up with their bills, Stafford says. And even when they finally have gotten a job they could not easily improve their finances. "They still have debt to deal with before they can take care of things like saving more money or paying for their kids' college education," says Gerri Detweiler, director of consumer education for Credit.com.

Not everyone is under dire financial straits. In fact, 14.6% of American households have more than $50,000 in saving accounts and other liquid assets, such as CDs and bonds. That is up from 11.8% in 2009. Two things that may have helped boost their savings. "They may be trying to get rid of risky investments, such as stocks, and seek shelter from liquid assets" such as savings accounts, CDs and bonds, Stafford says. And they may be cutting back on their spending.

And nearly half of families say they have no debt at all from credit cards and other unsecured loans, the same percentage as in 2009, the report says. Unfortunately, the number of families who are underwater in debt has risen. Now, 10% of families owe more than $30,000 in unsecured debt, up from 8.5% in 2009. "I talk all the time to people who are still just hanging on by their fingernails," Detweiler says.

Source
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editec · May 15, 2012

It is entirely possible for the economy to recover but for the much of the population NOT to recover.

That is, in fact, the way it seems to be going.

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Obama forgets the magnitude of the recession

ScreamingEagle Gold Member

Katzndogz Diamond Member

Claudette Gold Member

Papageorgio The Ultimate Winner

Claudette Gold Member

waltky Wise ol' monkey Supporting Member

editec Mr. Forgot-it-All

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Obama forgets the magnitude of the recession

ScreamingEagle Gold Member

Katzndogz Diamond Member

Claudette Gold Member

Papageorgio The Ultimate Winner

Claudette Gold Member

waltky Wise ol' monkey Supporting Member

editec Mr. Forgot-it-All

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