What it means is that if we do not act, it will be harder for Americans to get a mortgage for their home or the loans they need to buy a car or send their children to college. What it means is that businesses won't be able to get the loans they need to open new factories or make payroll for their workers. And if they can't make payroll on Friday, then workers are laid-off on Monday. And then those workers can't pay their bills or pay back their loans to someone else. And it will go and on and on and on, rippling through the entire economy. Thousands of businesses could close. Millions of jobs could be lost. A long and painful recession could follow.He also said that if we had "two or three or six months" to come up with a better plan, we'd do that. But we have to pass something now.
OK Barry. Guess what? You have two or three or six months at the most before we're back in the same exact situation that you're warning us about now.
And when all that above worst case scenario happens anyway in 2009, and should you happen to be President at the time, we're counting on you to get a real fix passed. It will be much harder to do so and a fix will be needed much more urgently.
I'd get to work on that now if I were you. It will define your Presidency, and it will define America's future.
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