Monday, April 5, 2010

It must be G-d's will: there's nothing we can do

White House braces unemployed for slow job rebound
Huh? What ever happened to "yes we can!"???

Meanwhile,
On jobs vs. high unemployment, Obama has political balancing act
By Dave Cook, Staff writer / April 2, 2010
Christian Science Monitor
... “The unemployment rate is still terribly high and it’s going to stay unacceptably high for a long period of time,” Treasury Secretary Timothy Geithner said Thursday in an interview on NBC’s “Today” program.
So tell me, if unemployment rate is deemed "unacceptably high", why is this administration preparing to accept it????

Republicans, on the other hand, are responding with large-scale social experimentation:
Coburn blocks extension of unemployment benefits, threatens start of recess
Oklahoma's junior Senator - a Republican - took a principled stand: if we can't pay for benefits, we'll not extend 'em. Of course, this plays nicely into GOP argument that unemployment benefits are a disincentive to employment: folks are just lazy and won't look for work if they get paid for not working.

Sad thing is, if viewed as a large-scale social experiment the data may look like it supports the GOP. IF April numbers show increase in job creation, GOP could plausibly attribute the gain to folks losing unemployment benefits! (... as opposed to, for example, Obama's socialist stimulus program actually working!)

This after GOP rule pretty much destroyed the U.S. economy.

I'm having a hard time seeing a silver lining to this, no matter what happens.
Sigh.

1 comment:

  1. As Krugman always says,"It's heads they win, tails we lose."

    ReplyDelete