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Something We Can Say With Certitude: The Economy Stinks!
Arianna Huffington
June 13, 2011
At least one good thing has come out of the dismal May jobs numbers released last week: the president's re-election team has decided to make acknowledging the shaky state of the real economy part of its campaign message.
First, the now-familiar numbers: The economy added a net total of 54,000 jobs in May, around 100,000 fewer than had been expected. This comes on the heels of the equally dismal 1.8 percent first quarter GDP growth rate. What's more, the jobs numbers for March and April were revised downward by 39,000. Unfortunately, it's too late to revise upwards the intensity of the Obama administration's response to the jobs crisis over the past two years.
Instead, the
But now the numbers are so bad -- and
This is truly shocking. Not that the president's team realizes its "Morning-in-America" parade is getting rained on, but that marching under that banner was ever considered in the first place. Even if the jobs numbers had come in as expected, at 150,000 -- or even if they'd come in higher than expected at, say, 200,000, and stayed there for several months, we're nowhere near Morning in America. Unfortunately, too much of the country appears to be closer to a Permanent Midnight.
As our Business Editor
Instead, the
The conventional wisdom is that "there is no appetite in
Instead the president, even on the heels of the latest round of depressing numbers, is oddly passive. "This economy took a big hit," he said Friday. "It is just like if you had a bad illness, if you got hit by a truck, it's going to take a while for you to mend."
Being hit by a truck is not a bad metaphor -- but he left something out. If you get hit by a truck, you are taken to a hospital for major interventions. When you are wheeled through the emergency room doors on a gurney, people react; they move purposefully and quickly; machines are brought out; desperate measures are taken. But that's not at all what happened with the economy. Instead, the economy got hit by a truck, was wheeled into the ER, and those in charge largely left the patient to heal on his own while they went into a back room to talk about the long-term building plan for the hospital. And, every now and again, they come out to tell the patient: "Remember, you were hit by a truck. It's going to take a while to mend."
But it's not enough for the president to assure us "it's going to take a while to mend." The administration's inaction on jobs, and its utter surrender to the Republicans on the deficit, has created a vacuum -- one that allows
Sure, it's a hollow claim. But if the position of The Person Who Is Supposed to Care About Jobs is left empty, the American people are going to find someone to fill it.
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Something We Can Say With Certitude: The Economy Stinks! | Politics
(c) 2011 Arianna Huffington. Distributed by Tribune Media Services, Inc.
