Scary Job Chart (tm) gets even scarier.
TPM Reader AH asks why Democrats aren’t calling Republicans out for trying to stall the recovery to leverage the November election …
Why is nobody calling out the obvious November-focused political agenda behind deficit hysteria? Even head-fakes about deep cuts in public spending right now will help kill the recovery. Do I want to invest more in my business this quarter if cowardly elites are working to guarantee a “double-dip” recession?
Global stock markets showed a clear negative reaction to the ill-advised G-20 announcement on “austerity” last week. I thought Greenspan and the Chicago school taught that the markets are always right?
To understand the broader dynamic, all one has to do is realize who benefits in the short-term politically from an economic reversal. Republicans are hell-bent on triggering a stall to boost their electoral fortunes. This is incredibly obvious. Except, perhaps, to Democratic politicians, many of whom are happily waltzing into the trap by accepting right-wing framing - and even joining in on the chorus.
The hysteria *should* be about “official” unemployment near 10%, and real unemployment rates that are probably in the 16-18% range — and the failure of efforts to rein in the Wall Street casino that did this to us.
I’ve heard change is coming - just when is it supposed to show up?
I guess one change that’s for sure: deficits will no longer matter (again) as soon as Republicans are back in charge.
Josh Marshall is editor and publisher of TalkingPointsMemo.com.