icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
25 Feb, 2009 03:28

Is Obama heading in the right direction?

Barack Obama is working hard to save the U.S. economy from the ongoing financial crisis. But is he doing everything right? Prominent U.S. policymakers John Bolton and Ron Paul join RT with comments.

“The situation we face could not be more serious, we think this an economic crisis as deep and as dire as any since the Great Depression,” Barack Obama said.

But Former U.S. Ambassador to the UN, John Bolton, and Congressman and former Presidential Candidate Ron Paul don’t seem to agree on anything when asked to judge the recent statements by the new resident of the White House.

“To say that this is in any way comparable to the Great Depression is a huge exaggeration,” John Bolton said.

“I think it’s bad, I think he’s probably right on that, but I don’t think he has the full understanding of why it’s that bad,” Ron Paul said.

Commenting on the possible Wall Street meltdown, the two politicians also expressed opposite opinions.

“I don’t think that’s at all likely. I think what is likely to happen is just as the U.S. led the fall into recession it will likely lead the recovery out. Economists predict recovery toward the end of this year, or beginning of next year,” John Bolton said.

“I think it’s melted down pretty well already. And the melting down will continue unless we change our ways. We can expect this problem not to last for a year or two but for a decade or two,” Ron Paul warned.

The other subject on the agenda was a sum of over a trillion dollars more aid aimed to help the economy.

“Economists from across the world have warned if we don’t act immediately millions of more jobs will be lost,” John Bolton stressed.

“It’s the wrong kind of stimulus. I think it’s the most foolish trend we’ve been involved in throughout our whole history,” Ron Paul said.

Obama’s latest decision to send 17,000 more troops into Afghanistan also worries the politicians.

“I think it’s a sound decision, to increase the troop levels,” John Bolton said.

“I think it’s an outrage. Right now we’ve suffered the most because we’re paying for our foreign intervention overseas, but foreign policy doesn’t change with Democrats or Republicans, they are all interventionists, they all believe in the world empire,” Ron Paul said.