Obama Talks Taxes And The Economy

April 14. 2009

“Obama Sees Economic Hope, Long Recovery” - AP

Tomorrow is the yearly deadline for American citizens and residents to file their income tax returns. Some will be getting a refund check from the I.R.S., while others will have to issue a check, as they owe the government more dough than Pillsbury.

The government is especially sensitive to the tax day this year, as the nation is in a worsening financial crisis. Consumer spending was down last month and unemployment is up, higher than Lindsay Lohan (yea I said it, what are you gonna do about it carrot top).

Seriously, America has become a financial desert. Mirages that appear to be financial water are actually sand, as old behaviors that created said crisis, have not changed.

A bad financial inheritance of debt from the previous, treacherous administration, coupled with greater excessive spending by a new overburdened one, has set another disaster in place. Cut back on the spending and clean up corporate America or this will happen again.

Obama sees hope, hard times in economic future

Reporting from Washington -- President Obama today sought to temper recent optimism about an economic recovery that could derail his plans for broader financial reform, warning that the "hard times" will not end this year and there will be "more job loss, more foreclosures and more pain" before the recession ends.

Because of those continuing problems, much more work needs to be done to repair the economy and enact sweeping new financial regulations to prevent another economic meltdown, Obama said in a 45-minute address at Georgetown University.

"The market will continue to rise and fall. Credit is still not flowing nearly as easily as it should. The process for restructuring AIG and the auto companies will involve difficult and sometimes unpopular choices. We are not finished yet on that front," Obama said in what the White House billed as a major economic speech...

http://www.latimes.com

More Americans wary of tax man this year

WASHINGTON (Reuters) - As a deep recession strips Americans of their jobs, homes and investments, the 2009 U.S. tax season promises to see a large uptick in first-time delinquent income taxpayers.

"Our calls are up 280 percent," said Richard Boggs, founder and chief executive of Los Angeles-based Nationwide Tax Relief, a firm that helps delinquent taxpayers resolve tax issues...

http://www.reuters.com