Christina Romer leaves the Obama administration. I wonder why the top economic adviser would leave with things going so well? According to Obama, this is the "Summer of Recovery". Why would anyone want to leave now and miss getting the credit for a great job. She predicted that if the stimulus package was passed that unemployment would not top 8%. Gosh, she has done better than that, its now at 9.5%. What an achievement!
I was thinking today what a shock it would be for Obama to enter "The No Spin Zone" Today he was spinning the 9.5% unemployment as:
1) Not as bad as it could have been.
2) Maybe this is just "structural" and will be with us from now on.
3) Losses were mainly "Temporary" Census workers.
Hmmm, he didnt mention that the Census workers were a big part of the Gain earlier this year. Nor did he mention that the June jobs gained figure was revised down from 80,000 to 31,000. But, he happily mentioned that the July jobs gained was 71,000 even though that may well be revised down to 21,000 and that it wasnt enough to overcome the 141,000 lost jobs.
If that spinning top ever got into O'reillys parlor and the spin stopped abruptly, Obama would have a very bad headache from the shock. Bill O'reilly would get very dizzy if he actually tried to stop the spin. Its no wonder Obama wont come on FOX news.
Jim Isbell
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