Reply #39: GOP predicts doomsday if Obama budget passed [View All]

[villager]

Source: AP

GOP predicts doomsday if Obama budget passed


By PHILIP ELLIOTT

WASHINGTON – Congressional Republicans on Sunday predicted a doomsday scenario of crushing debt and eventual federal bankruptcy if President Barack Obama's massive spending blueprint wins passage.

But a White House adviser dismissed the negative assessments, saying she is "incredibly confident" that the president's policies will "do the job" for the economy. In a TV interview, Obama himself laughed when discussing the dire state of parts of the economy — and ascribed his laughter to "gallows humor."

White House Council of Economic Advisers chairwoman Christina Romer insisted that the nation's flailing economy will be rebounding by 2010. Administration officials — and the president himself — have taken a cheerier tone despite economic indicators that are anything but positive.

"I have every expectation, as do private forecasters, that we will bottom out this year and actually be growing again by the end of the year," Romer said.

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Read more: http://news.yahoo.com/s/ap/20090322/ap_on_go_pr_wh/obama_economy

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doomsday for rightwing lunatics?