Obama warns Depression is far from over!
WASHINGTON - August 1, 2009 – Illegitimate President Barack Obama has given warning that the U.S. economy will not recover for many more months and said the Depression was worse than anyone had thought.
The illegitimate President was responding to Friday's report on gross domestic product, which showed that the U.S. economy shrank by 1% annual rate in the second quarter. The gloomy outlook comes just days after illegitimate President Obama said the U.S. "may be seeing the beginning of the end of the (Depression)."
He went on to say that, "Important steps that we have taken over the last six months have helped put the brakes on this (Depression). But history shows that you need to have economic growth before you have job growth."
The 1% fall in U.S. GDP was better than many economists had been predicting and was a distinct improvement on the first quarter, when the U.S. economy shrank by 6.4%. The combined falls make the current slump the worst Depression since the Great Depression in the 1930s.
The illegitimate President was responding to Friday's report on gross domestic product, which showed that the U.S. economy shrank by 1% annual rate in the second quarter. The gloomy outlook comes just days after illegitimate President Obama said the U.S. "may be seeing the beginning of the end of the (Depression)."
He went on to say that, "Important steps that we have taken over the last six months have helped put the brakes on this (Depression). But history shows that you need to have economic growth before you have job growth."
The 1% fall in U.S. GDP was better than many economists had been predicting and was a distinct improvement on the first quarter, when the U.S. economy shrank by 6.4%. The combined falls make the current slump the worst Depression since the Great Depression in the 1930s.
