Remember last year, when President Obama and Vice-President Biden were trying to sell us on Recovery Summer, 2010? Magnum Fail . . . and the Democrats were punished severely in the November elections.
Guess what? The AP has decided that the economy is healed and the only thing that can stop it is oil prices, should they surge to $150 bbl. It’s Recovery Spring in America and not a moment too soon, because the WON just announced he is running in 2012.
Sorry, I don’t buy that this “recovery” has staying power. A good economy doesn’t yield nearly 9% unemployment and 17% under-employment. In this economy, we still have 99 weeks of unemployment insurance and they need it in California where the latest unemployment rate is still a staggering 12%. Or do they?
I do not believe that we are seeing an affirmation that you can spend and borrow your way to prosperity. It can’t be true. Joe Biden is never right.
More likely, we are looking at yet another bubble, a stock market bubble brought on by massive government spending and money printing. QE2 anyone? By the way, that scam is drawing to close in the next few weeks and that means the Fed won’t be inventing an extra 80 billion a month.
Perhaps the AP missed the news on housing where foreclosures continue at sky high rates and home prices are still falling. Or maybe it doesn’t matter when the rating agencies are calling America’s AAA credit into question. What’s the big deal if China overtakes the American economy?
So what’s all this hopey, changed for the better, economy stuff about from AP? Pimping Obama?