It was Calculated Risk, and it gets even more depressing in February after they adjust the starting point.
All this crap about turning the corner is bogus. If you don’t have jobs, you don’t have a recovery. There is no credit to take up the slack, because people maxed out their credit during the 2001 jobless recovery. You can’t outsource all the jobs and expect to bounce back, it isn’t going to happen.
We need the FDR recovery plan, the parts that worked, and we have needed it for over a year.
People have forgotten the Bonus March, and the riots, and a lot of other unpleasantness that went on in the 1930s. It has been buried, but we will see it again.
]]>The Rude Pundit’s reactions to recent revelations is despair. I can’t say that I feel much more optimistic, given that the victims of the current broken system — the average Americans who are losing their jobs, their homes, their lives — defend it tooth and nail to enable their abusers. Only complete and utter national disaster, as in, people dying in the streets, is going to change things… and I fear, not for the better, since the F word raises its head then and we have no more FDR’s.
– Badtux the Economics Penguin
]]>People have forgotten that LBJ, Carter, and Clinton all balanced the Federal budget when in office, while every Republican since LBJ has run deficits. Somehow that gets lost in the screaming.
]]>She has her areas of conservatism, but for the moment she is in line with what people need, and realizes what crooks large banks and insurance companies really are. Her district is in the Rust Belt, so she is well aware of how worthless promises from corporations are.
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