Barack Obama claims the U.S. is in desperate economic condition and the situation is becoming more desperate. How does he know? Nobody can predict the future but Obama seems to think he can.
Obama is taking a huge gamble. If it turns out he's wrong, he will have cried wolf once too often. Even if he's right about how desperate economic conditions are, the results of his gamble could be disasterous -- the dollar may tank, the deficit certainly will mushroom, the economy may remain in the tank.
If nothing is done and the economy remains in the tank, Obama may get the blame. That's probably what he's trying to avoid.
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