When unemployment was climbing toward its high mark, it was an economic emergency, a bad thing and was something we needed to take steps to remedy.
Then, when unemployment started to abate somewhat, it was hailed as evidence that the federal government’s policies were working under the “leadership” of President BO (the amateur president).
We also heard that the economy as a whole was experiencing growth. True, it wasn’t big enough or fast enough, but it was growth…more evidence of PBO (tap)’s expertise at governance.
Housing was “rebounding” and consumer confidence was micrometers higher than it had been.
GDP had grown by ½ of one percent, and it was clear that the recession, which actually ended several years ago, was finally coming to a practical end.
All of this was touted as great!
But a fly flew into the flawed ointment.
We now know that the unemployment rate has actually increased. Dozens of very large corporations have announced layoffs in the thousands. 169,000 people have dropped out of the labor force. Job growth has not really been able to keep up with population increases. The economy has “contracted.” The GDP is stagnant. And consumer confidence has hit a two year low.
But fear not, O Gullible Public. Whereas these indicators were BAD things that needed correcting, they are now being declared GOOD things, indicating that the economy, while shrinking, is growing.(?)
AP news has referred to the apparent set-back as upbeat.
It is upbeat that poverty is up. It is upbeat that middle class incomes are down. It is upbeat that one in five Americans is on food stamps. It is upbeat that the GAO says our deficit is “unsustainable.” It is upbeat that the labor force has shrunk to a thirty-year low since President BO (the amateur president) took office.
If a ceiling fan spun this fast, it would disintegrate before our very eyes.
NBC’s Chuck Todd has helped us understand all of this, explaining that the collapse of the GDP is due to the federal government not spending us into bankruptcy at a fast enough rate.
Uh…Chuckles, would you please snow that again. I didn’t get the drift.
Good is bad and bad is good.
Interesting.
One might be tempted to think somebody had been reading Isaiah 5:20, “Woe to those who call evil good and good evil, who put darkness for light and light for darkness, who put bitter for sweet and sweet for bitter.”
But probably not.
10 comments:
The good news is that the bad news is not SO bad.
DB: So, is your comment a good comment or a bad one?
Dow closed at over 14,000 today for the first time since 2007.
We're back to where we were before Bush's recession.
GDP is above where it was prior to Bush's recession.
Corporate profits are above where they were prior to Bush's recession.
Consumer spending and business investment are both up.
We are CLEARLY better off than we were 4 years ago which means President Obama and his administration succeeded in pulling us back from the brink of total collapse at the hands of his predecessor and put us firmly back on the path of recovery and growth.
And thanks to the wisdom of the American electorate, he has 4 more years to finish the job.
America is recovering and on the path to reclaimed greatness and relevance.
You should be thanking President Obama for rescuing the country you love so much from the policies of the idiot that you voted for.
Twice.
XO: "Dow closed at over 14,000 today for the first time since 2007."
When the DOW is down, liberals say it does not matter. Now that it's up a little, it's the most important thing since sliced bread.
Now, actually relating to the post. Is poverty up or down? Are middle class incomes up or down? Are one in five Americans on food assistance? Is the deficit sustainable? Is the labor force shrinking or not?
Does Chuck Todd's explanation that the collapse of GDP is because the fed is not spending fast enough make sense to you?
Liberals consider the health of the government to be an indicator of the health of the economy. And here in DC, the health of the government is REALLY good. There are luxury apartment buildings going up all over the place. Obama has actually effected the populations of DC, Maryland and Virginia. And there are traffic jams on Friday and Saturday night with people going to party in Georgetown. I've never seen Georgetown, but I hear they are not in a recession.
LR: "Liberals consider the health of the government to be an indicator of the health of the economy."
They actually consider themselves to BE America. The rest of us are just periferals.
Joe - "Does Chuck Todd's explanation that the collapse of GDP is because the fed is not spending fast enough make sense to you?"
Yes, of course it does. Government spending constitutes a HUGE chunk of the economy. The government buys a lot of paperclips, 3 ring binders, air filters, automobiles, fighter jets, carpets, desks, chairs, tanks, pencils, paper cups, coffee machines. The goverment consumes things that companies hire people to make. When government spending decreases, companies go out of business, people lose their jobs and the economy contracts. It's not a complcated concept.
Ever notice when Liberals have no other answer, they come out with the ubiquitous statement:
"It's Bush's fault!" Yeah, like he could control the Demokrat majority congress.
XO: "It's not a complcated concept."
It is, however, a wrong concept.
But your holding to it does not surprise me one little bit.
GEC: ""It's Bush's fault!"
They don't even realize that that mantra could get tiring after a while.
Joe - "It is, however, a wrong concept.
But your holding to it does not surprise me one little bit."
Do you deny that the federal government is one of, if not the, largest consumer of domestically produced products?
Do you not realize that a reduction in government spending grinds the domestic economy to a halt and results in companies that rely on their government contracts to fire workers and cancel orders from other companies creating a cascading contraction of the economy?
What about this is so complicated that you can't grasp?
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