Saturday, November 07, 2009

What the Unemployment Chart Tells Us

The blog Innocent Bystanders has been doing an outstanding job of tracking the real unemployment figures against the Obama Administration's projections. Here's the latest one.

What this chart does not tell us: this chart does not tell us that Obama is wrong or a fool or dramatically worse than the Republicans, although that might be the case*.

What the chart does tell us: the chart tells us that the macroeconomic model being used by the government is hopelessly wrong. That comes as no surprise as both parties are recommending more deficit spending (those tax cuts would come from China, you know) in response to a colossal national debt crisis.

You cannot borrow and spend your way to prosperity.

* - Except, of course, for eternally befuddled Sarah Palin whose family chose to run a private fishing business instead of nobly entering public service for life like the amazingly brilliant Joe Biden.

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