What “Doing Fine” Looks Like

Anyone remember McCain saying “the fundamentals of the economy are strong?” This is dumber.

 

The following are actual headlines from the past 48 hours:

Bill Clinton: “Median Income Now Lower Than When I Left Office

Another Bad Sign: Productivity Falls by .9 Percent

Youth Unemployment At 12.1 Percent

Who’s Really To Blame For Lousy Recovery?

Law School Class of 2011 Faced ‘Brutal’ Job Market

And these two are from last Friday:

Grim Jobs Data Upends Debate, Lowest Job Growth In A Year

Weak US Jobs Growth Threatens World Economy

Obviously the economy could be doing worse. It could be the Great Depression, we could still be at 10 percent unemployment instead of 8.2 percent (the longest we’ve had 8 percent or higher unemployment since the Depression, by the way), a huge asteroid could have hit the East Coast, etc. etc.

But “it could be worse” is nowhere near “the private sector is doing fine.”

Oh, and this is what Barack Obama has to say in 2008 about John McCain’s “fundamentals of economy” comment.

 

Michael Graham
Radio talk show host, columnist for the Boston Herald, stand-up comic and former GOP political consultant. Learn more about Michael here.

Natural Truth of the Day

For several months now, whenever the topic of enrollment in the Affordable Care Act came up, I've been saying that it was too soon to tell its ultimate effects. We don't know how many people have paid for their new insurance policies, or how many of those who bought policies were previously uninsured. For that, I said, we will have to wait for Census Bureau data, which offer the best assessment of the insurance status of the whole population... I stand corrected: These data won't be available at all. Ever.-- Megan McArdle, Bloomberg View.