World Bank Chief Economist: World Faces "Worst Recession Since The Great Depression"

World Bank Chief Economist: World Faces "Worst Recession Since The Great Depression": “Global oil demand will collapse next year and commodities will not return to the highs they reached this summer in the foreseeable future, two authoritative reports said on Tuesday as they forecast a long and painful worldwide recession.

The stark conclusions came as the World Bank's chief economist predicted that the world faced "the worst recession since the Great Depression".

The US energy department said global oil demand will fall this year and next, marking the first two consecutive years' decline in 30 years.

"The increasing likelihood of a prolonged global economic downturn continues to dominate market perceptions, putting downward pressure on oil prices," it said, forecasting that demand would drop 50,000 barrels a day this year and a hefty 450,000 b/d in 2009. US oil demand will drop next year to the lowest level in 11 years.”

Bush's tax policies didn't create jobs, or economic well-being for most Americans. Why does McCain want to pursue more of the same?

Senator Barack Obama is proposing tax cuts that would help struggling, middle-class families get back on track and provide relief during these financially uncertain times.

No matter how many times John McCain claims otherwise, the overwhelming majority of Americans will never see a tax increase under Barack's plans. Barack's proposals will lower tax rates for 95% of families, including the small business owners that are the core of our economic well-being. It's time to help the folks that have been hurt the most by the Bush economic policies that McCain has backed for the past eight years.

John McCain pledged to run and honorable, honest campaign. Instead he's been using his stump speeches and attack ads to purposefully mislead voters about Obama's real tax plans.

The crisis that we're facing calls for innovative solutions. John McCain's plan calls for renewing Bush's tax cuts for the wealthiest Americans. That didn't create jobs. That didn't stimulate economic growth. In fact, that approach is fundamentally more of the same, and the United State of America just can't afford it.

No more lies.

Before you vote, know who will raise your taxes more. According to independent, non-partisan comparisons, if you earn less than $250,000 per year? It's McCain.