Howard_T

Obama to Reduce Budget Deficit on 'Fewer' than Expected Bank Failures

Just as the less than expected number of unemployment claims of a few weeks ago led to predictions by the administration that the end of the recession was "just around the corner", so the less than expected number of bank failures leads the administration to make the budget deficit look smaller. Two things come to mind. First, there's still a deficit, and it's huge. Second, just wait (as TD points out) 'til the other shoe drops. It has dropped with respect to jobless claims (the number is "unexpectedly up" today), and the shoe will land with a resounding thud in regard to banks. When will the administration realize that it has been elected and it can stop making campaign-style pronouncements? Even better, when will the administration realize that it has been elected to serve ALL the people, and not just a small segment that has decided to shirk its responsibility.