Tough Times For Next Prez

Here is a link to an article about what the next president will face. FDR was lucky, in the sense that Hoover had struggled with the Depression for nearly four years prior to Roosevelt's taking office. Roosevelt and his astute advisers saw how Hoover's attempts to halt the downturn had failed, but they also saw, especially in Hoover's RFC (Reconstruction Finance Corporation), programs that had potential. Further, by the time FDR took the oath of office, the vast majority of the American people were ready to try something, ANYTHING, new. This gave Roosevelt great leeway. Now, a new president will take office in January 2009 and the outlook is not good. The economy has been teetering on recession, with some segments of the economy already in recession, if not outright depression. The free traders' beliefs that global trade would save our behinds is now being called into question, as virtually all economists say that there is a GLOBAL slowdown. Fasten your seat belts, folks!!!


http://www.msnbc.msn.com/id/26854154/