Obama: “We Brought the Global Economy Back From the Brink.”
This Friday, September’s job-loss total will be announced. Whatever the numbers, administration officials surely will tell us that life is better — because of them. “We brought the global economy back from the brink,” President Obama said at the close of the G-20 meeting last week. “(B)ecause of the bold and coordinated action that we took, millions of jobs have been saved or created; the decline in output has been stopped; financial markets have come back to life”.
This has been the president’s theme: His so-called stimulus package, bailouts for politically connected banks and industries, ludicrously wasteful programs like Cash for Clunkers, etc. have saved America from the greatest disaster since the Great Depression.
But this theme runs up against some rather unfortunate facts.
Read more by John Stossel at Real Clear Politics: