How Freaky is This?

July 25th, 2011 at 7:42 am

Just trying to get a good start with the morning coffee this AM, when I saw this on my milk.

There’s that Aug 2 date again!  What does it mean?  Sell bonds?  Stocks?  The US economy?

Like I said, I’m trying not to let this madness take over, but it’s everywhere.  I just read numerous articles all of which could be summarized thusly: No one knows what the h-e-double-toothpicks is going on but there’s a lot of surrying about.

And every plan now under discussion suffers from either not extending the ceiling until 2013, which is and should remain unacceptable to the president, and/or being terribly unbalanced: all cuts, no revs.

Oh, and I didn’t find even a mention of the unemployment rate–remember that little problem.

Going on CNBC to discuss this stuff around 10 this AM…I’ll be the one whose hair’s on fire.

Update: The sturdy and reliable E.J. Dionne remembers this AM that jobs matter.

 

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6 comments in reply to "How Freaky is This?"

  1. Kevin Rica says:

    August 2 is also the 21st anniversary of Saddam’s invasion of Kuwait. Heartwarming memories! It’s a two-fer.


  2. Kevin Rica says:

    Why do my comments always have to “await moderation.” Is it only mine. It seems like no one else and in either party (that’s right Jared — I said either party) has to await “moderation.”

    In this society we can all wait a long time and “moderation” still won’t come.


    • Jared Bernstein says:

      Um…it takes a big team here to scrub your comments in particular for moderation…they’re pretty rough when they first come in.

      Kidding! My understanding was that once you have a comment approved by our team here, they don’t have to be approved after that. But I’ll check.


      • Kevin Rica says:

        Jared,

        Don’t worry about moderating me (or you missed the point of my immoderate comment). Moderate the party caucuses. Both parties!


  3. Tom says:

    How many times has Boehner talked about the jobs/unemployment crisis?


  4. David R says:

    Good post, it is good to see someone at least turning to the jobs issue.

    The data is flying under the radar, see here

    http://dismalpoliticaleconomist.blogspot.com/2011/07/unemployment-increases-in-28-states.html

    Even worse is that some Conservatives apparently believe the problem is that people don’t want to work because the unemployment benefits are so great. See here

    http://dismalpoliticaleconomist.blogspot.com/2011/07/conservative-linda-chavez-solves.html

    and more importantly see the chart that shows openings relative to the number unemployed.

    If the employment figures do not get better all the deficit reduction plans in the world will not work because revenues will not increase unless economic growth takes place.

    And cutting spending is moving to policy that is in the opposite stimulus direction, but no one seems to know or care.

    WHY?


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