Friday, May 3, 2013

Happy Days Are Here Again or If You Set The Bar Low Enough Everyone Gets A Gold Star

Pop those corks and let the bubbly flow. The Democrats took control of both houses of Congress in 2006. It took them a couple of years to crash the economy but by George they did it.

So now we hear that unemployment has fallen to 7.5 %. Holy Recovery, Batman!

Not to kill your buzz, but let us take a longer view of the situation.

BTW, both of these charts were taken from The Bureau of Labor Statistics. We have to go back to the early 90's to find a time when unemployment touched 7.5 % and we ran the first George Bush out of town for allowing that. 

In fairness to the Dems, the GOP took back one House of Congress in 2010 and has held it since then. But Speaker Boehner and his RINOs have betrayed their own party and for all practical purposes the Democrats run Congress if only by proxy.

Oh, and it has taken almost six years for the Dow to recover its 2007 high water mark. More bubbly. What price did we pay for our renaissance? Disaster in every other viable statistic, most significantly, our debt.

The doubling of our national debt has not fueled a recovery. 7.5 % unemployment! Pop those corks, baby!

1 comment:

Hoosierman said...

It almost getting to where it would be if we hadn't passed the stimulus. Austan Goolsbee was on TV and was not very optimistic. He said he only expected 2% growth for the year.