Obama Warns That Recession May Last Into His Third Term

Obama said today that his administration may have deal with this recession for at least another ten years. “This recession was caused by massive borrowing and spending, and the only way to fix it is more spending on an unprecedented scale. If the economy doesn’t recover after five years, we’ll just have keep trying. I may even be forced to run for a forth term. But it should be clear that long term recessions require long term long term planning, much of which be done at once without any time for debate or consideration by Congress.”