Obama Warns Of The Rough Economic Road Ahead

The president-elect was on Meet the Press yesterday, and it was a fairly sober -- and sobering -- affair:

But, look, if you look at the unemployment numbers that came out yesterday, if you think about almost two million jobs lost so far, if you think about the fragility of the financial system and the fact that it is now a global financial system, so that what happens in Thailand or Russia can have an impact here, and obviously, what happens on Wall Street has an impact worldwide, when you think about the structural problems that we already had in the economy before the financial crisis, this is a big problem and it's going to get worse.

Howie has more thoughts about the economy in general. And Bob Cesca surveys the details of Obama's plans. Meanwhile, Jed astutely observes that the bottom line of Obama's outlook is an optimistic one:

So although the headlines are accurate as far as they go, they don't tell the whole story, and they don't -- at least in my opinion -- tell the most important story, which is that we're going to turn things around.

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