JFK... i've been reading economic forecasts from the world bank. I think he will only be able to play the "it's called a bad economy" card through early 2011 at best. he might be able to stretch it into late 2011/early 2012.
(totally floors me that someone would blame the economy for not paying someone in a business where you essentially operate on other peoples money and the sales they generate)
--------------------------------------
The baseline scenario presented in this edition of Global Development Finance depicts a much more subdued recovery than during a normal recession, partly because this downturn follows a financial crisis—which tends to be deeper and longer-lasting than normal ones—and partly because today’s downturn has affected virtually the entire world, precluding the more typical scenario where recovery from a more geographically isolated downturn is at least partly achieved by exporting to healthier and more rapidly growing countries.
In this scenario, global GDP, after falling by a record 2.9 percent in 2009, recovers by a modest 2.0 percent in 2010 and by 3.2 percent in 2011 (table 1.1).