Not a freaking chance in the world.
Three years and seven months into the Obama administration, there’s no longer any reasonable doubt that we’re living through the worst presidential exercise of economic stewardship since Franklin Delano Roosevelt’s rabid progressivism known as the New Deal locked the Federal Reserve-created, Herbert Hoover-enhanced Great Depression into place for eight additional years. In 1932, the year before FDR was inaugurated, the unemployment rate was 23.6%. In 1940, it was still 14.6%. In between, it never fell below 12%. The economy only recovered because of the military build-up required to win World War II.
I heard Kruger on NPR on Friday – spouting his “Recovery” claims without any pushback from the hosts.
The media is doing its best to floss the narrative to a fine sheen.
Today, as Mort Zuckerman accurately contended in a Friday evening Wall Street Journal op-ed, “we are experiencing, in effect, a modern-day depression,” where “dependent millions” relying on food stamps and swelling the disability rolls “are the invisible counterparts of the soup kitchens and bread lines of the 1930s.” Zuckerman, James Pethokoukis at the American Enterprise Institute, and Amy Payne at the Heritage Foundation have accumulated separate litanies of awful statistics, largely focusing on deep drops in labor force participation and sharp increases in discouragement. Collectively, they completely repudiate Krueger’s and Solis’s aforementioned recovery assertions.
Read the whole thing.
And make sure your less-informed friends, relatives and neighbors read it too.