Source:
MSNBC.COMSARASOTA, Fla. - Democratic presidential nominee Barack Obama said Thursday that economic conditions would get worse before they got better no matter who was elected president, telling NBC News that the next administration was likely to inherit a “significant recession.”
In an interview airing later Thursday on “NBC Nightly News,” Obama said, “I don’t think there’s any doubt” that the next president will have a tougher job than ever, saying it is not possible to forecast how long the economic downturn would last.
“We know that the next president is likely to inherit a significant recession,” Obama told Brian Williams, anchor of “NBC Nightly News.” “We don’t know yet how long and how deep it is, and what actions we take over the next six to nine months could help determine how deep and
Read more:
http://www.msnbc.msn.com/id/27460758/
As was reported this AM the US economy has "contracted", maybe less than some have predicted, but never the less. Some are predicting at least 18-24 months of severe recession instead of the average 10.
This honest assessment from Obama shows that he is facing reality and possibly attempting to manage expectations to a degree.
“conditions would get worse before they got better no matter who was elected president", for those who like to "research" posts you will note that I have been saying for more than a year that whoever inherits this crapstorm could very well be a one term president. If the "downturn" lasts until the midterms you will see a bloodbath in congress.
If anyone is expecting FDR to come walking through the door to save us, get ready to be disappointed.