I hope this will help the administration back away from this misguided effort to focus on deficit reduction:
WASHINGTON (Reuters) – The U.S. unemployment rate, currently at 10 percent, is unlikely to drop below 8 percent before 2012 unless Congress takes further steps to boost the economy in the short term, the nonpartisan Congressional Budget Office said on Thursday.
Today on Morning Joe, Scarborough was saying that the president hasn’t done enough to create jobs. “Jobs, jobs, jobs,” Joe said.
Yeah, I agree. But the president has, in fact, done a lot. It’s just not enough to counteract the crushing impact of 30 years of Reaganomics.
Nevertheless, I wonder what Scarborough proposes. After all, when the president passed the recovery bill — creating or saving millions of jobs and included the largest middle class tax cut in history, Scarborough called it socialism. When the president rescued the auto industry and saved whatever jobs remained in Detroit, Scarborough called it socialism. Sorry, Joe, but tax cuts and magic won’t create jobs. The president needs to spend more. Will you call it socialism again? Probably.