Breathless reports of rising unemployment reached me yesterday as I dodged growing breadlines in my tiny Maryland community. Everywhere there was talk of a new CCC or WPA, and folks were thinking we might need to exhume FDR to get us through this nightmare.
Not really. The current unemployment rate is low by historical standards, the stock market is high, and inflation is low. Yes, things are not what they were a year ago, but they are clearly not in crisis.
Saturday, August 2, 2008
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If this SAME economic data were reported in Feb/Mar '09 following an Obama victory, the headlines would be starkly different("US Economy Appears to Turning Corner"..."Unemployment Holds Steady at 5.7%"..."Economy More Resilient than Forecasters Had Predicted" and the like).
Let's face it, the Press is in the bag for Obama (still feel that tingling feeling in your leg, Mr. Matthews?), and will do everything they can to set the tone for November.
But this does not excuse McCain from running a lackluster campaign. Recent signs of life are hopeful, but I'm not banking on it.
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