Tuesday, September 14, 2010
Celente: Obama wrong then, wrong now
In a speech on the US economy in Ohio, US President Barack Obama said he recognized that the recovery has been painfully slow and he called on congress to act by cutting taxes for businesses and middle-income Americans while raising rates rise for the rich. Obama is insistent on letting the Bush tax cuts expire. Obama also called for the enactment of his six-year infrastructure plan that would cost US taxpayers $50 billion in the first year alone. Is this a proposed second stimulus? Gerald Celente of the Trends Research Institute argues that Obama was wrong on the economy before and is wrong now. He failed, says Celente. Obama got his stimulus; he got healthcare. It's not the Republicans fault. It is Obama's, he got what he wanted and the economy is still in recession, explained Celente. But, "he gives a great campaign speech."