Politics and Whatnot

Just another liberal political blog

Not too worried about a double dip recession

Judging from the news in the last few days, you’d think it was 2008.  The headlines scream “Recession Fears Loom in US Economy” “America Headed For Double Dip Recession?” and dare you to take a look at “The Ominous Job Growth Chart that will Make Your Jaw Drop“.

What behind all this panic?  Well, apparently, the economy only added 54,000 jobs last month.   So – gas prices skyrocket, tornadoes plague the southeast, states enact budget cuts and lay off public employees, and despite that, the economy only adds 54,000 jobs?  Must be a double-dip recession caused by the failed stimulus plan. Must be.  Only explanation.

But maybe if you look at the sources for the above articles again – Iran’s official news service, Pat Robertson’s and Glenn Beck’s news sites –  you can see another reason for this sudden pessimism – it’s being pushed by sources that want the US to suffer a double dip recession under Obama’s watch.  It’s well-recognized that the economy is Obama’s biggest weak spot right now, and the Republican presidential candidates have already been focusing their attacks on this topic.

That’s not to say there is no reason for concern.  Rising gas prices and the hard hit taken by the middle class in this recession will undoubtedly cause problems for a long time.  But given the atmosphere of hyper-caution that has dominated the last few years, how can the economy dip any further?

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3 responses to “Not too worried about a double dip recession

  1. Pingback: Why the economy still isn’t going to implode, despite what public thinks of it « Politics and Whatnot

  2. Polnwhat June 9, 2011 at 10:02 pm

    Thank you Norma for making my point. I didn’t say Robertson or Beck were at fault for the recession, but that they are pushing stories that make the economy look bad, so Obama then looks bad. Now you act like the argument is about why there’s a double dip recession rather that whether there will be one. You, as a conservative Republican, take the position that there already is a double dip recession, and now all we have to do is convince silly liberals like me that it was all Obama’s fault. The same thing is happening with the larger media – the double-dip recession narrative is being pushed by Obama haters, and the panic-based media is giving them too much credibility.

  3. Norma June 8, 2011 at 12:15 am

    So the continuing recession with all the stimulus money thrown down the pit is the fault of Beck and Robertson? Couldn’t be Obama’s energy policies, or over regulation business, hostile czars doing what Congress is elected to do, or waiting til the last minute to keep the Bush tax cuts, or saddling us with hugely expensive Obamacare down the road which scares away investments. It’s just a few right wing blow hards to cause all those promises he made in 2008 to ruin us to come true?

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