According to White House Advisor David Plouffe:
The average American does not view the economy through the prism of GDP or unemployment rates or even monthly jobs numbers. People won’t vote based on the unemployment rate, they’re going to vote based on: ‘How do I feel about my own situation? Do I believe the president makes decisions based on me and my family? (Bloomberg News)Translation: Americans are so selfish they are only in it for themselves. Ask not what you can do for your country or fellow men, but ask what my President can do for the top two percent of wage earners, corporations, the Wall Street elites, and the Military-Industrial complex. It'll all trickle down eventually.
Paul Krugman thinks we should be more aghast than usual at the new monthly report:
Almost no job creation, with slow private-sector growth offset by falling public-sector employment; a falling employment-population ratio; and (I don’t know how many people have picked this up), an actual decline in wages, albeit a small one.
The politicians are all buying into Reagan voodoo economics at this point, confident that cutting trillions from the budget will miraculously create the Confidence Fairy and inspire the money-hoarding tax-evading multinationals to create jobs, jobs, jobs. They are wrong, wrong, wrong. And I think they know it and just don't care.
|Arriving Soon... From Wall Street to Pennsylvania Avenue|