03 November 2006

What's she smoking?

"The President has the worst jobs record since the Great Depression, and the economy is slowing due to the housing slump. The budget and trade deficits as well as public debt levels have all climbed to record levels," Pelosi said.
1. The new jobs report is really excellent news. Note that this is nearly as good as the pre-9/11 jobs numbers.

2. When a market bubble, the the housing bubble, begins to deflate, that is not a slump. It is the market returning to normal.

3. I do not think that the budget and trade numbers or the public debt are at record levels in constant dollars, though I, too, am concerned about them.

But Speaker-in-waiting Pelosi blows any credibility she might have with:

4. "The President has the worst jobs record since the Great Depression..." Right. Except for Truman, Eisenhower, Johnson, Nixon, Ford, Carter, and Bush 41.

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