Obama's State Of Economy Speech At Georgetown University

[jmorris84]

I thought some of you here would have a field day with this one.

http://www.huffingtonpost.com/2009/04/14/obamas-state-of-economy-s_n_186603.html

“The truth is that a dollar of capital in a bank can actually result in eight or ten dollars of loans to families and businesses, a multiplier effect that can ultimately lead to a faster pace of economic growth,” Obama said.

[Bobt39]

I was there and took this picture which I thought was funny

I didn’t want to go see him but I watched to the speech - it was awful. He talked about how they will regulate wall street to prevent this kind of crisis from happening again, how the debt is actually an “investment for the future”, letting the market adjust / letting companies go bankrupt would make it worse, carbon caps / taxes, more education and health care spending, etc. The same old nonsense. I was ashamed to hear my classmates applauding

[laminustacitus]

I watched it during my macroeconomics class, I regretted that I didn’t end up skipping the class. The speech was utter incoherent economic fallacies pilled atop each other. I esspecially loved when Obama stated healthcare reform would aid reducing the deficit.