The nation’s economy expanded at a rate of only 2 percent last quarter. That’s not enough to stop it shedding jobs, as the New York Times notes today.
An economy growing at a sluggish 2 percent rate, most economists agree, cannot produce nearly the demand needed to bring down the nation’s painfully high 9.6 percent unemployment rate. The economy needs to produce 130,000 to 150,000 jobs a month just to keep pace with population growth, a number it has not hit in many months.
The White House, knowing the number would be out and likely be awful, has scheduled President Obama to speak about the economy today. What will the spin be? “We need to do more, but WE’RE MOVING IN THE RIGHT DIRECTION.”
That’s all Obama & Co. ever say.
Here are the top ten other things that were moving in the right direction:
1. The Titanic.
2. Amelia Earhart.
3. Princess Diana.
4. The meteor that landed on the earth and wiped out the dinosaurs.
5. The tortoise crossing the highway during morning rush hour.
6. The 2004 Indian Ocean tsunami.
7. The bullet that killed Lincoln.
8. Napoleon as he invaded Russia.
9. Pop fly to center field.
10. Man being chased by a Cheetah.