The Economic Forecast is Settled!
Apparently, this adminstration is bound and determined to drag each branch of science out behind the White House and put two in the back of its head. They’ve pretty much finished off climatology with their faith-based approach to climate science. Now, they’ve sent the director of the National Economic Council to do the same to economics.
During my “This Week” interview, Summers said that “everybody agrees that the recession is over,” but he did not say when the unemployment rate could be expected to drop further.
So, it’s science by consensus in economics, too? Well, okay, but I wonder a bit at how Summers is defining “everybody”. Clearlythe growing consensus of the public isn’t heading the way Summers thinks it is. The consensus from the public is that things aren’t likely to get better for a while Heck, you can even find one of the administration’s own among the throng.
Regardless of where the consensus is, though, Summers should hang his head for trying to throw the old “the science is settled” argument past us. It’s shabby science and Summers really should know better.
(via Glenn Reynolds)
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Category: The Economy and Your Money
Tell that to all those people that have no jobs or cannot pay bills or buy food.
What would those folks know? They aren't "everybody"!
I thought Cramer had it best and when he came out with it, it had been my feeling for about a month or so-
the reason the economy is not improving and employers are not thinking of expanding is because of the uncertainty. Will there be cap and trade or Obamacare or not reeling in the deficit to degrade the business climate?
basically, that is Cramer paraphrased.
Here in Progressive Western Washington, what I find scary is the government doesn't get it. They insist on taxes and feel they have made the cuts they could. Of course, reducing wages and pensions is taboo, so by their definitions, all cuts have been made.
To the tune of all liberals, "Death to the Middle Class!!!"