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Video: Doesn't This "Exhausted" Lady Know Recession's Over?

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Via WSJ
At a Town Hall meeting with President Obama today, a woman stood up said, "I'm one of your middle class Americans. And quite frankly, I'm exhausted. Exhausted of defending you, defending your administration, defending the mantle of change that I voted for. My husband and I have joked for years that we thought we were well beyond the hot dogs and beans era of our lives, but, quite frankly, it's starting to knock on our door and ring true that that might be where we're headed again, and, quite frankly, Mr. President, I need you to answer this honestly. Is this my new reality?" Maybe we shouldn't have skipped lunch, but hot dogs and beans sound like a pretty delicious reality right now. Watch the video clip below:

With the midterm elections looming, Obama is working the proverbial room trying to convince the electorate that he's succeeded in improving things for the middle class. In response to her question, the president pointed to changes made to student loan programs, laws affecting the credit card companies, and mortgage brokers. His happy talk comes coincides with a new report from The National Bureau of Economic Research, which concludes that "a trough in business activity occurred in the U.S. economy in June 2009. The trough marks the end of the recession that began in December 2007 and the beginning of an expansion."

Stocks closed at their highest level in more than four months today as the news broke, and analysts say the stock market also reacted positively to the "strengthening signals" that Republicans would regain control of the House of Representatives in November's midterm elections. "Wall Street tends to love divided government," Robert Phipps, a director at Per Stirling Capital Management, tells the Wall Street Journal. "The market is starting to price in the likelihood of a change of power in the House."

A recession is generally defined as a period in which economic growth falls for at least two quarters; the Great Recession of 2007-2009 officially lasted 18 months and was the longest since the 11-year depression of the 1930s. This NBER report means that any future downturn in the economy would be considered a new recession—the dreaded "double dip" recession. But whatever you want to call it, job growth in or out of recession is currently an anemic 1.6%, and the official national unemployment rate is 9.6%—but some experts say it's more like 16% because the Bureau of Labor Statistics doesn't include those who have given up looking for work.

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Comments [rss]

  • rdayk

    I eat hot dogs and beans all the time without feeling dreadfully sorry for myself. What is wrong with hot dogs and beans? Add some veggies and it's a complete meal. Most small kids love 'em and she has two kids. It's not like hot dogs and beans are ramen noodles. If she thinks hot dogs and beans are too lowly for her family, put the kids in public school, that ought to save her family a few thousand a year, minimum. I mean, it's hard to accept complaints from a gainfully employed person paying two private school tuitions when so many are without jobs and certainly without the means to put their kids in private schools.

  • John L

    Obama is doing a fantastic job given the circumstances that were handed to him. No other president in the history of the United States has taken office with a recession/depression and TWO wars. All these delusional people thought "change" met magic, I guess they thought Obama was going to start pulling bunnies out of hats. Bush practically left this country bankrupt and now they want to blame him.

    You know I think the Republicans are smarter than I thought. When I saw that McCain picked Sarah Palin I thought he was an idiot but now I think he did it purposely so he wouldn't win because he knew that no president would be able to fix this in one term. So they made sure Obama won so they could have a scapegoat for their mistakes.

    Look at Obama's record he's done everything he's set out to do under the worst circumstances possible. Eight years of Bush's failed policies and people thought Obama would fix it in under 2 years, let's be realistic. Look at the problems that got us into this mess and whenever they started blame that administration. Obama's just trying to fix the mess and it took more than two years to get into this mess and it will take more to get us out.

  • jles

    WE GET IT! "Look at the circumstances that were handed to him!" and "The past 8 years gave us....". Bush was an ABHORRENT President, who strongly contributed to why everything is so fucked up (so did Clinton)...but Obama is now the president... stop with these lines.

    And this woman's issue is that Obama's ideas are HORRIBLE! They're the exact same as Bush's! And, the most criticism-worthy part about them is that they make no sense whatsoever.

    Nothing has been fixed at all. The government has artificially infused tax-payer money to prop up businesses that should have failed and exited our system. Now, instead of a real estate bubble, Obama is slowly creating a currency bubble. Watch this video:

    http://www.youtube.com/watch?v=4ECi6WJpbzE&feature=player_embedded

  • jessecal

    Just another example of how 'Statistics' can lie!

    (Quote Mark Twain: "There are 'lies'; 'damned lies'- and then there are 'statistics'!"

    I am watching the American Economy (previously based 70% in 'Consumerism') slowly grinding to a halt. . . because the American population is NOT spending any money due to a lack of either a job- or confidence; OR BOTH!

    What a joke the Obama 'Ad-min-a-stray-shun' be!!

  • Bricklnoes

    Thanks for sharing most informative article.

    Enlarge Maxx

  • just saying

    Is that lady another one of those black teabaggers I keep hearing about? (Yes, I'm serious.)

  • Alain

    Lame response from Obama. He waited a year to enforce credit card laws, during which time, they all jacked up the rates. And give me a break about mortgages: what's the point of cracking down when banks won't even lend the money in the first place? And sorry lady, I don't see how America is supposed to feel sorry for a gainfully employed CFO.

  • unretrofiedforu

    CFO and private school for the kiddies?

    Something tells me she WOULDN'T feel:

    student loan programs (Aw, can't get that loan for Harvard and Brown? Try living a life where you can't even send your kids to community college.)

    laws affecting the credit card companies (being a CFO in Washington I would hope you wouldn't ever have to feel how it is to use credit cards for groceries)

    and mortgage brokers (like someone pointed out, it isn't the color of the skin but the color of the money).

    Lady, you aren't middle class. The hot dogs and beans era for you was a bit easier when there were a million or less people in this country vying for the same piece. You wouldn't be able to feel anything all the way up the ladder. Sit down, continue to defend the statute because you should be happy to live the american dream.

  • Såkandulæredet

    It cut off Obama's explanation, I'm curious if he brought up his health care bill or not.

  • etypical

    Clearly she's racist.

  • JacqueMehoff

    yeah, blame obama. I want to know who are these people you know who you need to defend the president.

    be thankful you have a job. invest in lead.

  • exnyer

    ticker symbol Pb?

  • nik13

    Obamunists turning cannibal?

    Anyone who still has a job should be thankful his or her lives weren't "touched" by Obama & Pelosi. Forget "jobs created or saved" with ever lowered expectations. Being merely tickled by 0 counts as blessing now. Unemployment doubled under rule of SF & Chi-town gangsters. In some parts tripled. Raaaacists must not work.

  • I'm not even going to bother watching the video. as if were so easy to lay all the blame at obamas feet.

    the standard of living in the US has been dropping for all but the richest people for the last 30 years. the gap between the rich and poor has been growing for the same amount of time...on top of that massive amounts of wealth are being moved overseas as part of globalization...blue collar jobs, white collar jobs...it doesnt matter...

    You'd have to make a half a million a year to have the standard of living someone working in the navy yard in the the 1950s used to have. this is just how it is.

    while you were getting hysterical about mosques or lady gaga...the rich done took the your childrens future and your American dream walked off with it.

    you can blame Obama or whome ever you want, but I aint got no sympathy for ya.

  • jles

    And why do you think those jobs have moved overseas? Cause the rich just HATE Americans?

    No, it's because the cost of doing business on American soil has become far too high. Between labor unions and their benefits, high taxes for businesses, etc, it just makes more sense to move overseas where they can operate more profitably.

    What has Obama done about that? He's expanded health insurance and made it mandatory for small business employers, he's placed greater regulation on financial institutions, and now he's talking about raising the Capital Gains Tax. How do ANY of those ideas help domestic employment?

    We need to focus on making domestic production and business more attractive in this country, not less.

  • until America becomes a third world country it will ALWAYS be cheaper to move operations overseas to third world countries.

    think about it....

    this attack on worker rights, work benifits, blamming them for corporate greed is not logical.

    the top 10% of americans are richer than ever before. ceos of us companies are making 300 times what the avg employee makes...the highest ever...corporate taxes are the lowest in 50 years...taxes on the wealthy are the lowest in 50 years...

    we need to CLOSE our system and stop pretending that globalization (us companies moving overseas) isnt bad for 90% of americans.

  • Mr Mel

    At least she's still working.

  • exnyer

    Arroz y Frijoles cheap and tasty.

  • JacqueMehoff

    hot dogs and beans? talk to us when it's vienna sausages and rice.

  • airtech1

    Quite frankly, you misspoke Madame. Gray's Papaya is the new reality of our lives.

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