The Obama administration is clueless.  Here is a prediction from Larry Summers, Obama’s Chief Economic Advisor on The Nightly Business Report in which he predicts a not so great Depression.

“After Lehman, the economic discussion was whether recession would turn into depression. Today, the economic discussion is when the recession is going to end, and most experts are looking for significant economic growth in the third and fourth quarters of the year. So I think we’ve come a long way. At the same time, with unemployment well above nine percent, likely to remain unacceptably high for a few years, no one can be satisfied with where we are. We’ve got a great deal of work to do, making sure to do stronger financial regulation. This just can’t happen again. Making sure this expansion is as robust, as firmly grounded as we possibly can.”

“Strong financial regulation” means more government regulation.  

Look, recessions normally run their course in 6 – 9 months, like a cold.  It will fix itself.  If there are specific things causing the problem, they need to be removed, but the economy will fix itself over the long run.  If it doesn’t it is because someone is screwing around with the economy.  Are these guys going to figure out that government overregulation, which is really government control, is the source of the problem?  No way.

The high unemployment numbers will turn into voter dissatisfaction, which in turn will result in a political turnover in Washington DC. 

In Obama-land the government centralizes its power by creating dependence on big government.  In the real world, Obama is ensuring his own downfall.

Next stop for Barack Obama:  The dust bin of history.

Stumble it!