11.16.2009

Oops!

In that post below I really wasn't picking on Obama. He's not at fault. I fear any American president would be doing the same thing in kowtowing to China.

But I did stumble upon one fun article that I strongly recommend for Obama's economic-apologists: check it out. It features the following chart, which the Obama economic team produced ten months ago:
So... either, you have to admit that Obama's efforts have made things worse than they would've been without a recovery plan, or you have to seriously distrust the ability of his economic advisors to know their heads from their tails.

2 comments:

Mark said...

Its amazing how we treat these economists as oracles who can tell us the future. All this goes to show, they have no freakin idea what employment is going to be like a year from now or six months from now. But it makes us feel comfortable and in-control to produce charts and forecasts.

Wishydig said...

i think you've overstated the "either…or…" here.

sure. perhaps they made it worse. maybe with no response, unemployment would have peaked around 7.5%. obama should have done less.

perhaps it would have been worse than anyone predicted and obama's plan kept unemployment from going up to 16%. maybe obama did the best thing.

maybe they underestimated but got the relationships right. maybe obama's response should have been bigger.

maybe they knew but were lying to keep things calm.

maybe obama's advisors are hoping to sabotage his administration.

maybe even obama is hoping the economy collapses because he and rahm emanuel are evil and are building a tank full of sharks with frickin' lasers.

there are more possibilities than you offer. to say that either they added to the problem or they have absolutely no idea whatsoever what's going on is kinda sloppy isn't it?