Friday, June 8, 2012

The economy should have been booming

IBD has a good rundown of a point I made the other day about how the tendency is for deep recessions to be followed by strong recoveries.  This was certainly well-known in 2009 when forecasters, including the Administration's, were predicting such a recovery.  The President and the head of his Council of Economic Advisors, Alan "Cash-For Clunkers" Krueger, now try to peddle the notion that the Obama recovery is the natural consequence of the Bush recession rather than their own horrifically ill-conceived policies.