Economy is not as bad as we think

Always the great optimist as Obama is, this is the best he can say about the economy. Well of course it isn't that bad yet, we are only 50+ days into his administration.

Confronting misgivings, even in his own party, President Barack Obama mounted a stout defense of his blueprint to overhaul the economy Thursday, declaring the national crisis is "not as bad as we think" and his plans will speed recovery.

Challenged to provide encouragement as the nation's "confidence builder in chief," Obama said Americans shouldn't be whipsawed by bursts of either bad or good news and he was "highly optimistic" about the long term.

I wonder what Obama will be saying next year when we have double digit unemployment along with double digit inflation? Probably "well at least it isn't as bad as it was under Carter."