GOP Predicts Doomsday If Obama Budget Passed
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. By PHILIP ELLIOTT, Associated Press. Click here to read more.
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