Another Friday and another round of disappointing economic reports.
"This isn’t a Recovery Summer.
It’s a slow slide, certainly better than the rapid disintegration of 2009, but we haven’t replaced those jobs yet, either.
Job losses are cumulative.
In a normal recovery with proper economic policies of lower barriers to investor entry, we would see a rapid replacement of jobs in this time frame that would take us back to somewhere around 80% of what was lost, with the remaining 20% being the most difficult to recover.
We have not yet even begun that ascent."
Ed is right when he speaks about a "normal recovery".
However, this is totally different, in large measure because of misguided legislation, foolish anti-business rhetoric and a squad in the White House who has never spent a day in the real world.
According to news gencies, we had tepid private sector growth and cutbacks in the public sector, such as the end of the census.
Here is the really bad news: Some economics are using that dreaded "double dip" recession expression!
It does not make for a nice weekend for US workers and families.
It does not make Michelle Obama's lavish trip to Spain look like a very smart political move either!
I think that Ed Morrissey got it right:"This isn’t a Recovery Summer.
It’s a slow slide, certainly better than the rapid disintegration of 2009, but we haven’t replaced those jobs yet, either.
Job losses are cumulative.
In a normal recovery with proper economic policies of lower barriers to investor entry, we would see a rapid replacement of jobs in this time frame that would take us back to somewhere around 80% of what was lost, with the remaining 20% being the most difficult to recover.
We have not yet even begun that ascent."
Ed is right when he speaks about a "normal recovery".
However, this is totally different, in large measure because of misguided legislation, foolish anti-business rhetoric and a squad in the White House who has never spent a day in the real world.
