The Economic Crisis Hits One Household in Our Nation's Capital

WASHINGTON - Like many Americans, President Barack Obama's First 100 Days worried about her mortgage, health care, and retirement savings, but it was not until she lost her job that the current economic crisis really hit home.

"You just never expect it to happen to you," said the First 100 Days. "Even as you see it happening all around you to your friends and coworkers." President Barack Obama's First Week in Office and President Barack Obama's First Month in Office were both recently laid off, and a number of other arbitrary periods of time since the beginning of the new administration have seen their benefits and durations substantially reduced.

Not all arbitrary periods are pessimistic. "We all have to accept that their are going to be cutbacks," said The First Year of the Obama Administration. "But I still believe things can turn around.

MOVING FORWARD

Peter Orszag, the Director of the Office of Management and Budget, was blunt. "The President has directed the departments and agencies to make cuts across the board," he said in an interview. "Obviously, the President feels for every American who loses his or her job, but with hundreds of thousands out of work around the country and a tough economic outlook, he feels strongly that these cuts were and remain necessary.

Peter Pumckineeter of the libertarian think tank The CATO Institute expressed a strong belief that the President's cuts do not go deep enough.

"Are they serious? The First Hundred Days is a rounding error. There are over 1,400 days in the President's First Term alone. This is cosmetic, nothing more."

However, prominent economist and columnist Saul Tuggman disagreed. "Do I think this will singlehandedly rescue the American economy?" he said. "The answer is no. Do I think it represents and important commitment to fiscal responsibility by the Federal Government. You bet I do."

Prominent Democrats largely agree that the cuts represent a small, but important step. Republicans involved in budget negotiations are more cautious, and say it remains to be seen whether Mr. Obama is serious about reducing spending in the Executive.

THE FALLOUT

For President Obama's First 100 Days, though, the effects have been devastating.

For starters, the market for temporal demarcations of the beginning of a new administration is very soft these days.

"I had a friend who suggested I look for corporate work, but how many new CEOs are getting hired these days? Besides, even if they are, they're either looking for First Weeks or First Years. Let's face it, I'm in a pretty specialized profession." She sighs. "I guess I should say that I was in a pretty specialized profession, huh."

Meanwhile the bills pile up, and the collection calls have already begun.