It all depends on how you define "crisis."

A deflationary cycle with increasing unemployment? Not a crisis.

The president TALKING about a deflationary cycle with increasing unemployment? CRISIS!!! MAN THE WALLS AND FIRE THE CATAPULTS!!!

I'm going to be sick after watching that. It IS a crisis to Diamond because she's worried about losing her house and the equity is down 30% due to all the other irresponsible people not being able to pay their mortgages. Another example of Fox asshats worrying about their own ass but anyone else in the same situation, SCREW THEM!!

Yes, all those irresponsible people LOSING THEIR JOBS to a bad economy. How dare they fail to pay their mortgages.

Bob asks a Very Serious Question

Why is President Obama telling the truth so much?

I don't know Bob. It's a weakness he has. Did you hear about this one? http://www.nytimes.com/2009/02/20/us/politics/20budget.html?_r=2&partner=rss&emc=rss

Obama Bans Gimmicks, and Deficit Will Rise

By JACKIE CALMES
Published: February 19, 2009

WASHINGTON — For his first annual budget next week, President Obama has banned four accounting gimmicks that President George W. Bush used to make deficit projections look smaller. The price of more honest bookkeeping: A budget that is $2.7 trillion deeper in the red over the next decade than it would otherwise appear, according to administration officials.

The new accounting involves spending on the wars in Iraq and Afghanistan, Medicare reimbursements to physicians and the cost of disaster responses.

But the biggest adjustment will deal with revenues from the alternative minimum tax, a parallel tax system enacted in 1969 to prevent the wealthy from using tax shelters to avoid paying any income tax.

Even with bigger deficit projections, the Obama administration will put the country on “a sustainable fiscal course” by the end of Mr. Obama’s term, Peter R. Orszag, the director of the Office of Management and Budget, said Thursday in an interview. Mr. Orszag did not provide details of how the administration would reduce a deficit expected to reach at least $1.5 trillion this year.

and

For Medicare, Mr. Bush routinely budgeted less than actual costs for payments to physicians, although he and Congress regularly waived a law mandating the lower reimbursements for fear that doctors would quit serving beneficiaries in protest.

Mr. Obama will budget $401 billion over 10 years for higher costs and interest on the debt.

Maybe we should plan an intervention. This truth-telling must stop!

QT

Did you catch the very serious person on CBS evening news tonight complaining about the President telling the truth too much? I swear she said she wants him to stop being a downer and promise everything will be hunky-dory (or words to that effect). Of course, if he did that, the next day she and the rest of them would be bitching that he lied to us and didn't fix everything immediately.

Oh yeah, don't forget the history of this financial mess started Jan 20, 2009.