This recession has taught us that we can’t return to a situation where America’s economic growth is fueled by consumers who take on more and more debt. In order to keep growing, we need to spend less, save more, and get our federal deficit under control. We also need to place a greater emphasis on exports that we can build, produce, and sell to other nations – exports that can help create new jobs at home and raise living standards throughout the world.(emphasis mine)
Unemployment is, 10.2%, 17½% if you use U6, which the metric that most closely matches the numbers used to arrive at the 24.9% level during the Great Depression, and he thinks that it's time to cut the deficit.
It's the wrong prescription, and notwithstanding polls, people don't vote on the deficit, they vote on the economy, and except for little Timmy Geithner's friends in wall street, the economy has consistently gotten worse, and it will continue to get worse as Obama plays to Wall street, and not Main Street.
H/t the artist formerly known as Armando
3 comments :
Dear God!
Well, at least there's pressure building to dump Larry Summers and Geithner from both the right and the left.
I'm hoping he's just saying the "magic words" until Health Care passes and then when up on the "Jobs Summit" he tosses Geithner and Summers off of it
Smile
He won't.
He's surrounded himself with Clinton's chicken shit staffers, and has followed their chicken shit advice.
Seems, all too sadly, that you're right.
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