Posted by: Rick | Friday, July 8, 2011

Unemployment: 9.2%

Never mind the Republicans.  They’re not serious people.  Somebody needs to ask Barack Obama to explain how cutting Social Security is going to create jobs.

Paul Krugman makes a good point this morning:

People have asked me why the president’s economic advisers aren’t telling him not to believe in the confidence fairy — that is, not to believe the assertion, popular on the right but overwhelmingly refuted by the evidence, that slashing spending in the face of a depressed economy will magically create jobs.  My answer is, what economic advisers?  Almost all the high-profile economists who joined the Obama administration early on have either left or are leaving.

Nor have they been replaced.  As The Wall Street Journal recently noted, there are a “stunning” number of vacancies in important economic posts.  So who’s defining the administration’s economic views?

Tim Geithner and Gene Sperling, I guess.  The Wall Street Twins.  Scary.

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