14 December 2009

White House Adviser Says Recession Is Over

"Today, everybody agrees that the recession is over, and the question is what the pace of the expansion is going to be." -- Lawrence Summers, President Obama's top economic adviser

No. It's not. Not in real terms. That statement is absolutely offensive. Oh, Wall Street might be done bleeding jobs and if that is the measure you want to use then, fine. As long as the millionaire bankers and brokers are okay we can all relax and celebrate.

But forgive me for not joining you. Using real work force numbers, unemployment is closer to 16% than 10%. By the time you count the people who have given up or accepted part-time work, the number may be as high as 19 or 20%.

This doesn't even address the economic issues of those whose hours have been cut or whose benefits have been lost. And while those of us in the real world are dealing with these issues, the price of everything from gasoline to electricity to milk continues to go up. There is no relief! And on top of all of that, Congress plans to legislate and tax every facet of the economy which will put a long-term squeeze on things for you unless you happen to be planting windmills.

These people are so out of touch it's ridiculous. Maybe the recession is over. Maybe last month was the bottom. You want to bet on it? Personally, I think it's to soon to call even from an optimistic standpoint. And I've frankly had it with elitist assholes telling me everything is okay to make themselves look good, especially when I know better.

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