Tuesday, June 23, 2009


Veronique de Rugy makes an excellent point about the 'Recovery's Missing Ingredient: New Jobs':
Remember how the Obama adminstration promised that the $800 billion stimulus bill would create thousands of jobs? Well, according to this morning's Washington Post, it hasn't happened yet:
"Despite signs that the recession gripping the nation's economy may be easing, the unemployment rate is projected to continue rising for another year before topping out in double digits, a prospect that threatens to slow growth, increase poverty and further complicate the Obama administration's message of optimism about the economic outlook."

And the Post notes:
Continuing high unemployment rates would undercut the fundamental argument behind much of that spending: the promise that it will create new jobs and improve the prospects of working Americans, which Obama has called the ultimate measure of a healthy economy.

Yes, one would hope that most Americans — and professional economists — who supported stimulus spending as a way to get the economy going again would actually wonder whether they may have been wrong. Maybe, there is something to be said about the theory that government cannot create jobs.

However, I am thinking that what is more likely to happen is that there will be a strong call for more government spending. If it's not working, it's just that we haven't spent enough.

Read the whole thing here (emphasis mine).

Will they wonder if they are wrong??

Don't be silly. We're dealing with malignant narcissists of the selfless variety. They're the most dangerous political animals you could ever have the misfortune to encounter.

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