In another clip from CNBC this morning, take a gander at the White House chief economist Alan Krueger affirming that, why no, this morning’s awful jobs report does not mean the White House is going to be reassessing their economic approach. And hey, why should they? Backing off of failed progressive policies for the good of the country is for chumps, duh.
I think if you look at today’s report and other indicators that are coming in, the economy is continuing to heal. What we need to do in Washington is avoid self-inflicted wounds. Most importantly, the sequester, the CBO estimates, will reduce job growth by 750,000 full time/equivalent jobs by the end of the year. So, we’ve done a lot of healing in the economy, the housing sector is finally making a turn and we shouldn’t be putting up headwinds in the way of the recovery that is taking place. … I think this report, and frankly, where we’ve been over the last year, supports the president’s proposal to have a balanced approach, which supports growth in the near term, invests in our infrastructure, invests in manufacturing innovation, invests in pre-school so we’re more competitive in the future, and addresses our long-run deficit problems and the president has show that it’s possible to do that.
I see his lips moving, and yet I hear no meaningful words coming out. Avoid self-inflicted wounds, really? The president’s entire agenda of meddlesome health care, financial, and eco-regulations is one giant self-inflicted wound, but if we want to talk about the sequester, let’s not forget that it could never of happened if the president hadn’t signed off on it and that he distinctly refused to allow for flexibility in the ways the cuts were implemented. And the housing sector making a turn isn’t going to last long if you — ahem — ‘keep going back to the policies that got us here in the first place.’
And of course, “balanced approach” and “addressing our long-run deficit problems” are code for raising taxes so that the federal government can continue to rob the private sector of more capital and instead “invest” it for us on things like “infrastructure” and “pre-school” — which is why President Obama will be including still more tax hikes in his upcoming budget proposal. Perfect.