Friday, August 6, 2010

Hey Geithner! No Jobs. No Recovery!

Earlier this week, Tim Geithner, Obama's Treasury Secretary, wrote an op-ed in the New York Times that was titled: "Welcome to the Recovery". In it, he pretty much gives himself and his boss a pat on the back for saving the economy. Like Obama, Geithner is trying to push the idea that things would have been a lot worse if the Democrats hadn't passed the Stimulus Package. But, Mr. Geithner can't seem to understand that the economy, as I have written before, was actually starting to recover on it's own before any stimulus moneys went out the door in August of 2009 (Click here to My Commentary: The Big Stimulus Package Lie!). In reality, with the stimulus spending well in place, the situation now appears to be getting worse; not better.

With this morning's jobs report, we now know that our economy lost another 350,000 combined jobs in the months of June and July and it really doesn't matter if any of those lost jobs were for a Census worker or a guy flipping hamburgers. A job loss is a job loss and, you don't continue to lose jobs in a recovering economy. Further, any increase in monthly job losses will only have debilitating effect on the economy; making it much more difficult for it to truly enter a recovery stage.

I, for one, am getting really tired of the unprovable political B.S. from the likes of Geithner, Biden, and Obama that jobs have been saved or created and that things would have been a lot worse without the Stimulus Package. That song is getting quite tiring; especially when we continue to see a slew of economic numbers that show that the economy might actually be stumbling again.