June 27, 2008
Obama a one-termer? Not good enough ….
Yesterday, the AFL-CIO endorsed Barack Obama and formally put the weight of its 56 unions, 10 million members, a $54 million dollar budget and a pledge of 250, 000 volunteers behind the surging Democratic nominee-to-be (hate presumptive, don’t you?) Unfortunately, media coverage of the joyful moment was truncated by a discordant convergence of withering financial news — key analysts reported big banks are in more trouble than we thought, oil spiked up over $140 a barrel for the first time ever, the stock market tanked 358 points to its lowest level in two years, shares in General Motors slid down to a 33-year nadir, and my 401K lost three percent of its value, again. Is Obama headed for a one-term presidency? (More)
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