Great piece by Jed Babbin over at Human Events.
Yesterday, President Obama’s two principal economic advisors — National Economic Council Director Larry Summers and Council of Economic Advisors chair Christina Roemer — gave us a glimpse into the continued tumult in the White House’s over how to restart America’s economic engines.
Summers said, “Today, everybody agrees that the recession is over, and the question is what the pace of the expansion is going to be.”
Roemer — asked if the recession is over — said, “”Of course not. For the people on Main Street and throughout this country, they are still suffering, the unemployment rate is still 10 percent.” She also said that the recession won’t be over until unemployment reaches “normal levels,” about 5%.
Moe Lane
Steve Maley
KnightsofMalta
Dan Spencer
Dan McLaughlin
The Humphrey-Hawkins Bill sets 4% as full employment.
Achance (Diary) Monday, December 14th at 11:31AM EST (link)That’s iconic Democrat policy from the Carter Administration. Don’t see how anybody with Comrade Obama can say we’re not in recession if the unemployment rate is greater than 4%.
Actually, I think “full employment” is somewhere around 6% unemployment because of all the transience in employment these days. Any lower than about 6% and qualifications start to go down and wages up.
In Vino Veritas
A vicious cycle is coming
aelie (Diary) Monday, December 14th at 11:39AM EST (link)1. Democrats spend oodles of money on pork… erm, stimulus.
2. USD and economy both weaken by reckless government spending.
3. Unemployment numbers go up….
4. So Democrats propose spending even more money to “save” the U.S. economy.
Rinse and repeat. It’s a scary prospects for all Americans who realize the fraud Democrats are trying to perpetuate.
Or, even more painfully, adult supervision is employed
Achance (Diary) Monday, December 14th at 1:22PM EST (link)to try to fix the mess, e.g., Reagan in ’80 – 83, and the pain gets really, really intense. The Ds won’t acknowledge that they screwed up and sit back to let somebody clean up, so they’ll be screaming “Aux Barricades” to the professional victim class they control and we have a period of civil unrest. I don’t know how that plays out because I don’t know if you can hold a governing coaltion to gether based on staying the course of taking your medicine. We got lucky that they served up Mondale in ’84 which allowed Reagan to continue the job.
In Vino Veritas
Summers and Roemer, paddling the canoe in opposite directions
RedBeard Monday, December 14th at 11:41AM EST (link)Did one of them not get the memo? Or did Rahm use the memo to wrap another dead fish?
Amateur hour at the White House.
Standard-bearer for grouchy curmudgeonry since, oh, 1975 or so.
Asking Obama to understand job creation
izoneguy (Diary) Monday, December 14th at 11:52AM EST (link)Is like asking a Harvard Law School professor to go coach a losing NFL team. And them saying to that Law School Professor to go win the Super Bowl…..LOL…
We need a real coach that can WIN…..and understands what winning means….President Obama is NOT that person.
The point cannot be made often enough: Modern liberalism, as embodied in the Obama presidency, is the defender of the status quo. And the status quo is a road to economic ruin. Political forces cannot redistribute the wealth that the economic system does not produce.
My old chocolate Lab...
RedBeard Monday, December 14th at 1:29PM EST (link),,,had a better understanding of job creation than Obama ever will.
And he didn’t need a teleprompter to let me know he needed to go out.
Standard-bearer for grouchy curmudgeonry since, oh, 1975 or so.
Did ya obama think about jobs 3 years ago obama when you, reid and pelosi shoved the foney energy bill .
bobojake (Diary) Monday, December 14th at 2:40PM EST (link)Was you better off 3 years ago before reid, pelosi, clinton, schummmmmmmer, obama gutted the United States of America with their foney fraudulent energy legislation or are you better off today????????????????
Me and my friends are SERIOUSLY ANGRY over the castration of the United States citizens/voters/taxpayers by obama and his democrat thugs.
Fox just showed a clip
momo Monday, December 14th at 4:31PM EST (link)of Ronald Reagan from 1987 taking responsibility for actions of those in his administration. It takes a real man to do that. Who is Obama blaming today?
Bankers!!!Bush!!Republicans!!!