Can We Sound the Alarm Yet??

Meredith Jessup | August 06, 2010 9:32 AM

Despite the White House's insistence that the country's on the right track, a quick glance at today's headlines suggests otherwise:

Social Security is in the red.

Fannie Mae needs another $1.5 billion treasury bailout to cover their 12th-straight reported loss.

The economy just lost another 131,000 jobs in July and revised estimates suggest 97,000 fewer jobs were created in May and June than had been previously reported.

To whom does President Obama turn during these tough times? The government, who, coincidentally, manages the U.S. Postal Service--a business enterprise that just managed to lose $3.5 billion in a single quarter.

Bad economic news coupled with bad policy is a no-win situation. Could this be why Obama's own economic advisor decided to jump ship?