The champagne corks are popping at 1600 Pennsylvania Avenue—and it’s not even Wednesday. The great news, in case you haven’t heard, is that unemployment is down two ticks since July. That’s right. A newly released analysis from the Labor Department has the new rate of unemployment as 9.4, down from 9.6.
I assume there are plans in the works for a hastily assembled primetime news conference to air this evening in which our Truly Great Leader* announces to his subjects the American people that the Stimulus (heavenly chord) IS WORKING!! (echo).
Only one problem. Economic analysts who don’t work for the White House or Federal Government identify the drop as possibly little more than statistical noise. What’s more, unemployment figures are based on the number of people who file unemployment insurance claims. That number is down, analysts say, because some 2 percent of the work force has taken itself out of the eligibility pool by finding temporary work to hold them until the sector they normally work in recovers.
So basically, despite the new numbers, the situation is about the same or slightly worse.
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* TGL and Truly Great Leader are the sole property of Lanny Davis and Barbara (here at ZC). Any rebroadcast or other use of either term without the expressed written consent of Lanny Davis or Barbara (here at ZC) is prohibited.
Comments 11
…and whose fault is that, buddy?
August 7th, 2009 at 5:14 pm
fuster, fuster, fuster. It’s not his fault—necessarily. The country was already experiencing a downturn when he took office.
But… his stimulus has been an abject failure so far, principally because 12% of it is genuinely stimulative (i.e., not pork), and celebrating over numbers that seem positive is dishonest.
August 7th, 2009 at 5:27 pm
fuster was joking, Howard.
August 7th, 2009 at 5:34 pm
Obama has already come out with a statement that everything is working as planned, and that we must therefore proceed to remake the country in many additional ways.
It’s getting more difficult for him, though; the plans cited have now changed several times (“jolt” or gradual recovery? 8% or 10%?), and the reality is biting more people.
I would like to see more people making the argument that taking money out of the private sector through taxes and huge government spending, and even wrecking useful cars, is not the way to increase investment and expansion of business.
August 7th, 2009 at 5:59 pm
They could make that argument, Margo, but of course Oslash himself isn’t interested in increased investment or expansion of business. He is interested in increased government control of the assets of whatever people figure, in the minds of community organizers, as the “fat cat,” privileged “them.”
That is, you and me.
August 7th, 2009 at 6:16 pm
Don’t worry.
If the numbers go back up, he’ll just blame Bush.
Again.
August 7th, 2009 at 6:38 pm
Back from dinner.
fusty, how can I tell when you’re joking if your jokes sound serious. (Btw, I found Two Toms–in my old neighborhood, as it turns out. Not cheap!)
Margo, I believe that argument is being made nonstop, but TGL refuses to listen to anyone wearing a flag pin.
J.E. and aelfheld: Exactly!
August 7th, 2009 at 7:25 pm
TGL, TGL, TGL! Freedom of speech rocks!
August 7th, 2009 at 7:38 pm
@Howard Portnoy – The first time I was there they must have recognized the woman I was with and there was no check.
August 7th, 2009 at 7:42 pm
fuster, tell me who she is. I’m not shy, especially when I can save a few $$. I’ll square things with the wife.
August 7th, 2009 at 8:05 pm
The Police Commissioner’s wife.
August 7th, 2009 at 8:17 pm
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