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« There's diversity at Harvard? | Main | "I am big. It's the media that got small." Andrea Mitchell channels Norma Desmond »

June 08, 2012

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Of course the private sector is doing fine. It's unencumbered by all those pesky workers wanting jobs.

Sissy, you nailed it. Maria Bartiromo has come around to the same conclusion. That press conference will be to Obama what Phil Gramm's 2008 "whiners" comment was to McCain: fatal.

In 2008, McCain economic advisor Gramm condescendingly labeled those of us who were alarmed at the rapidly deteriorating economy as "whiners" arguing that there was no recession and that the economy was stronger as ever despite the fact that banks weren't lending to each other overnight to cover their reserve requirements! McCain soon after suspended his campaign to run back to DC to vote for TARP despite the rosy economy. Wait for that part next from Obama.

That press conference provided that same moment of disconnect, that moment where tired "same old same old" rhetoric conflicts with what "everybody knows", that moment where we ALL realize that we are listening to a crazy person. It doomed McCain and has now doomed Obama.

Get ready for Hillary. Bill may have apologized for his his CNBC comments but he soon repeated them. Add Peter Orszag and Larry Summers echoing and amplifying Bill's comments, it sure looks like the USS Obama is stuck in a whirlpool of insanity.

It isn't surprising that Obama would say what he did.
The core belief of leftist economics is the belief that all money belongs to the government and that government spending is the engine of economic growth and the source of prosperity; that increasing government spending causes economic growth and that profits take money out of the economy, counteracting the benevolent influence of government and impoverishing the lower economic classes. Wealth is neither created nor destroyed, but exists as a set quantity that is made to flow from one place to another.
This is an unassailable truth to them so they think nothing of saying the private sector is doing fine because in their worldview it is. Since increased government spending equals increased economic growth the economy will improve only if government spends more and the jobs situation will improve when state and local governments start hiring again.

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