What might be more accurate would be to call it the Chart Of Obama. Because nobody thinks this is going to end this year, or even next year.
A pretty knowledgeable and insightful pundit we talked to this morning put it perfectly – Obama has absolutely no idea, NO IDEA, how to get this economy moving. And neither do any of his people in Congress. And now that it’s been two years of his presidency, he can’t blame this on his predecessor anymore.
The constant fight to extend unemployment benefits may be many things. To Nancy Pelosi, it’s a job creator. Her insane statement to that effect drew howls of incredulity from many quarters including this one. But in the end, that statement is tantamount to an admission that the crowd in charge of Washington for the past two years simply cannot revive the American economy, and paying survival income to the victims of the malaise is all they’re capable of doing.
We all hope a recovery begins soon. But the chart above shows that nothing of consequence will happen until the economic policies of the past two years are abandoned and pro-growth, pro-market economics is instituted. It may be the death of the Obama presidency to accede to such a change, but that, too, is justice.