The times lying before Obama are tough and definitely very serious. “The wave of bad economic news that helped carry Barack Obama into the presidency this month now threatens to swamp him before he takes the oath of office Jan. 20.”The US economic crisis which “remained almost eerily confined to Wall Street and the nation’s financial markets has burst through to Main Street and the regular economy of labor, goods and services.” Fact is it has long since spilled over to all kinds of sectors and industries and as plenty of articles on this site show, even as far as South Korea, Spain, and even Russia.
One thing which has been discussed over and over in the media the past few days is how Obama is probably facing the worst economic situation since Reagan, also pointed out in the artilcle: “The sheer size of the economy’s problems is unlike any faced by an incoming president since at least Ronald Reagan in 1980. And there is a palpable fear in Washington that they could grow worse.” It must be awful for Obama to be a complete bystander at the moment and must feel like he has his hands completely tied.
We can only hope Obama is using his time productively in getting together the best possible team to tackle this crisis.
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