Friday, September 04, 2009

Story Gutted by Reality

I believe the headline on Yahoo this morning for this story was, "Obama Not Getting Credit for Shortening Recession." Only a couple of minutes later, we learned that unemployment hit an unexpectedly high 9.7%. Unemployment is a lagging economic indicator, but until it bottoms out, you cannot say that Obama has shortened anything. It is going to be interesting to watch the media do an about face from 2004 and spin this miserable economy as one that's on the rise.

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