From Yahoo! News:
9. Geithner gives few details, tanks the market
In February, President Obama used his first White House press conference to alert the public to a momentous event. "Tomorrow, my Treasury Secretary, Tim Geithner, will be announcing some very clear and specific plans for how we are going to start loosening up credit once again," he said.But when Geithner appeared at Treasury the next day, on Feb. 10, he offered few plans of any sort, let alone clear and specific ones, which helps to explain the stock market's 5% plunge that day.
10. Obama's spending cuts...a ways to go
You're eight months behind on your $500,000 mortgage, your bank is demanding a meeting, and you respond by telling them there's nothing to worry about. Why not? Because you just saved $40 by canceling your newspaper subscription.
That, essentially, is the kind of fast budget talk President Obama trotted out in April when he made a big to-do out of instructing his cabinet to cut $100 million from their budgets.
$100 million may sound like a big number, but the cut would only reduce the United States' projected $1.8 trillion budget deficit by 0.005% -- less than what you'd save for your mortgage by giving up the daily paper.
If this stuff keeps up, we may one day have an unbiased Media. Well, maybe not.
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