Meanwhile, Back At The Economy: Unemployment Hits 9.8%
The American economy lost 263,000 jobs in September — far more than expected — and the unemployment rate rose to 9.8 percent, the government reported on Friday, dimming prospects of any meaningful job growth by the end of the year. [. . .] “It’s a very fragile and tentative recovery,” said Mark Zandi, chief economist at Moody’s Economy.com. “Policymakers need to do more.”
(Emphasis supplied) A little late for that isn't it? Krugman wrote:
[T]he complacency now setting in over the state of the economy is both foolish and dangerous. [. . .] [W]hile not having another depression is a good thing, all indications are that unless the government does much more than is currently planned to help the economy recover, the job market [. . .] will remain terrible for years to come.
(Emphasis supplied.) There's a winning political slogan - "terrible for years to come." But the stimulus ship has sailed. Obama blew it.
Speaking for me only
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