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Obama’s Economy Continues Downward Spiral

March 6, 2009

Jason C. O’Neill

Obama’s economy continues is free falling downward spiral. 

Today, the federal government revealed our nations unemployment numbers, and they weren’t pretty.  The new unemployment numbers for February 2009 stood at 8.1%

Source: http://www.cnbc.com/id/29546460

Yesterday, the DJIA continued it steep decline, and closed a cumulative 20% lower than the day Obama took office.  The DJIA closed at 6,594.44.

Citigroup closed at an all time low of 1.02 and General Motors closed yesterday at 1.86.

Obama’s economy ain’t doing too well.  It could do better if it had real leadership, but when Treasury Secretary Timothy Geithner is AWOL (Absent With Out Leadership), no wonder why consumers and investors are schizophrenic.

Obama and Geithner have failed to improve consumer and market confidence, which would definitely help revitalize consumer spending and investments in stocks, bonds and other equities. 

The Obama administration and Congressional Democrats is in dire need of attending Spenders Anonymous.  The Generational Theft inflicted on U.S. taxpayers will stall economic growth and cause more job losses.

To my friends on the left, “I told you so”.  And we are only 42 days into this economic nightmare called Obamanomics.

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