MAN: 'HE WAS THE MESSIAH'
WOMAN: … 'NO WONDER HE WAS
CRUCIFIED'
[Le Temps, Switzerland]
Le Temps, Switzerland
Obama Pays Big for
Anemic Growth
"The
president of the United States and the entire Democratic Party are first of all
paying the price for a financial and economic crisis that brought the country
to its knees. And it's still far from over."
By Philip Gumy
Translated By Philippe Guittard
November 3, 2010
Switzerland - Le Temps - Original Article
(French)
Just two years after an
election seen as a revival unknown since John F. Kennedy's ascension to
the White House in 1960, the American people have punished Barack Obama.
At first glance, and unless there
is a monumental error in polling - the results arrived late last night - the
president of the United States and the entire Democratic Party is first of all
paying the price for a financial and economic crisis that brought the country
to its knees. And it's still far from over. The proof is that on Wednesday, the
American Federal Reserve will in all likelihood decide to start printing money
even faster - to keep interest rates low and allow Americans to continue to
reduce their debts without restricting consumption.
So why such ingratitude on
the part of the electorate, when such measures have prevented the U.S. from
plunging into a depression like that experienced in the 1930s? And whereas growth
could have become more sustainable more quickly, why would Americans reward the very
Republicans who have decried these actions by Barack Obama? One will note that
average citizens see a reality that is far removed from Wall Street, where the major
banks, saved in the teeth of hundreds of billions of dollars of unpopular bailouts,
have quickly resumed their mega-bonuses. Meanwhile, unemployment has risen
steadily to about 10 percent, the highest since the early 1980s. The millions
of workers laid off in the past two years and the millions of others who constantly
fear for the their jobs have little taste for the bailout of General Motors, the
car giant that was socked by soaring oil prices.
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by WORLDMEETS.US
Real estate prices, which
have already dropped some 50 percent in major cities, could meanwhile continue
their descent into hell, throwing even more Americans onto the street. Although
formally, the United States has been out recession since June 2009, voters have
yet to feel the winds of recovery. Anticipated growth of 2.6 percent this year
is too low - that is to say, that won't generate enough new jobs for a nation
of 300 million - a nation that exploded its debt to preserve its economy and status
as a world power.
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CLICK HERE FOR FRENCH VERSION
[Posted
by WORLDMEETS.US November 3, 2:20pm]
