Add Kagan, subtract Romer
Christina Romer was one of the geniuses behind the stimulus, and the one responsible for the projections that said if the stimulus passed we'd never go over 8% unemployment. She's stepped down. Heads are starting to roll, but does that mean this administration finally owns this miserable economy? Ref. Source 6
This administration will never admit to the blunder of the stimulus bill. The fact that unemployment increased today and then the president went on national TV and stated it was dropping and has been for over seven months shows they are all living in a different world.
Bob Herbert: The Unemployment Horror Show:
"When you combine the long-term unemployed with those who are dropping out and those who are working part-time because they can't find anything else, it is just far beyond anything we've seen in the job market since the 1930s." Ref. Source 1
I haven't expected much for the working class in this economic environment. All the focus has been on big business and finance. They are all doing fine as they have the entire globe to work with, whereas the local economies are suffering with depression and stagnation.
The only way I can see out is if we can break free of the multi nationals grip.
A sticky wicket to be sure.
Friday laughs
Since unemployment is still 9.6 percent $165 billion was added to the deficit in one month, and President Obama is still celebrating a 'recovery summer' - Glenn figured it was time for a few laughs. Glenn talks with impressionist extraordinaire Frank Caliendo on radio today. Ref. Source 4
I believe that the administration and the Congress of this nation is getting more and more out of touch with the citizens. The Congress and Administration seem to think that only the big corporation and large banks deserve to be bailed out while the citizens continue to suffer.