Does anyone remember 5-6 years ago when the media and economic "analysts" everywhere told us it was the end of the world and we'd be stuck in a recession forever unless we repealed the tax cuts? (This was a recession that, by the way, began in June of 2000, 7 months before Bush even took office.)
How about around 3-4 years ago when, despite the economy's dramatic recovery, they were telling us it was still the end of the world because we'd still be stuck in a "jobless recovery" forever unless we repealed the evil tax cuts?
So what do these folks say now at this stage of the expansion, with job growth literally busting at the seams and unemployment virtually non-existent? What do they say now, with productivity and wages soaring? Things must really be great now compared to a few years ago, right? Not so, according to this CNN headline. So 4 years ago there weren't nearly enough jobs, but now the problem is that there are far too many.
It is simply stunning how a purportedly "respected" news source can take such a clear indicator of economic robustness and spin it completely around to paint the exact opposite picture. Just another reminder that when the person in the White House has an "R" next to his name, things will always find a way to be gloomy. Does anyone here believe CNN would have run this headline if it was 1997 instead of 2007?
3 comments:
In my last post, I made a comment about how liberals have "Uncommon Sense."
Liberals seem very arrogant to me. They vehemently back up ideas that make no sense, all in the name of sounding smart. As in Pat's post, Liberals are upset that our country has too many jobs. Why? Because they hate President Bush. Libs believe that their own thoughts and feelings are absolute truths, and scoff at any external source of absolute truth. (i.e. religion, economics, laws of nature, etc.)
Conservatives, on the other hand, are modest. We know our emotions are flawed, we realize we could be wrong. But, we acknowledge the superiority of a higher external absolute truth. Conservatives have more common sense.
Liberals remind me of a spoiled child (e.g. Chip Welch) They make blind arguments that have no objective reasoning.
So, being a conservative, I admit I could be wrong. But there is an external objective source that convinces me otherwise. (i.e. The Labor Supply and Demand Curve!) I also admit that I am not very smart. A liberal would never care to share this fact with anyone.
I agree with most of what you've said. I'm not some partisan hack who credits only Bush when things go well and criticizes Democrats when things go bad.
For example, I don't blame Clinton for the 2000-2001 recession at all. Presidents have no control over the business cycle. I think the economy did really well in the 1990s under Clinton, mainly because we had gridlock and limited government spending. A "do nothing" government is far better than an activist one.
My point is that the economy is just as good, arguably even better, now than it was then, but you wouldn't know it from reading the NY Times or watching CNN.
I saw on Fox News that in France, protesters demanded Housing as a right. The government agreed and is now planning on providing more public housing. Terrible. Let's reward people for not working.
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