Wednesday, March 17, 2010

Somebody Hit The Panic Button

If I'd gone back in time to the end of 2008 and told the incoming Obama administration that they would pass a large stimulus bill, but nonetheless unemployment would rise to around 10% by the end of the year and then stay there for about another year and that Jonah Goldberg would, at some point, say something intelligent, they probably would have been more likely to believe the latter than the former. If they did believe me, they would have freaked because 10% unemployment for an extended period is really really bad.

It isn't that the administration and Congress have done nothing since then, but when the jobs situation became more urgent they didn't really adjust. We had a brief message: focus on jobs moment a couple months back but that seems to have faded.

Yes a "jobs" bill just passed, but it won't do much for jobs.