Obamanomics: How Stupid Do They Think We Are?

Watching Fox News Sunday, I caught a panel on which Obama economic advisor Austin Goolsbee conceded that the administration had previously predicted unemployment would top out at around 8%, that it was now up to 9.4%, and that double-digit unemployment was a distinct possibility in the near future. Goolsbee then spun last month's loss of 345,000 jobs as somehow good news because it beat predictions (I don't recall him saying whose) of even more dire loss numbers.

It made me wonder why, if those predictions either existed or were serious, the Obama administration would have previously predicted that unemployment would top out at 8%?

If that weren't enough to make your head spin, Goolsbee also blamed Obama's handling (i.e., nationalizing) of the auto industry on ... President Bush. Obama, you see, was saddled with this mess because Bush — over the objections of his own party — decided back in December to raid billions in public money intended for bailing out the financial sector in order to bail out the automakers.

Again, how stupid does he think we are? Bush's move came after then President-elect Obama implored him to take action to stave off the collapse of the auto-industry. This was one of the major topics of their meeting in the White House on November 11, covered here by the Wall Street Journal...

[Normally it's the press' job to catch & report such blatant inconsistencies from our elected employees...]

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