The Recovery Is Worse Than The Recession
Peter Ferrara writing for the American Spectator magazine makes a good point:
Moreover, as the brilliant economist John Lott explained for FoxNews.com yesterday, the base unemployment rate has been stuck at least at 9.5% for 14 months now, over three full percentage points higher than the average unemployment rate during the recession… As Lott summarizes, “For the last couple of years, President Obama keeps claiming that the recession was the worst economy since the Great Depression. But this is not correct. This is the worst ‘recovery’ since the Great Depression.”
Ouch! I suppose we shouldn’t be surprised. Obama and most Democrats venerate FDR but the dirty little secret of his presidency is that FDR’s policies actually lengthened and deepened the Depression to the point that it took a world war to end it.
Joseph:
And yet, our unemployment rate still isn’t as high as what the French consider normal in a good economy. The Dems are in love with a European economic system that even the Europeans are starting to reject.
23 October 2010, 8:01 pm