The Obama administration and supporters have spent the summer claiming that the economy is recovering despite the data that simply does not support those statements.
I understand the importance of inspiring confidence in the economy. Much of an economy is based on confidence and the administration is justifiably working to build that confidence. Further, statements to the contrary could be devastating.
My issue, and that of many other critics, is that the administration is ALSO taking credit for those non-existent improvements; trying to win elections dishonestly. The administration should claim that the economy is moving in a positive direction and credit the natural ebb and flow of economies. This would be a less devious approach than claiming credit for something that is not occurring, and the honesty would be refreshing. In fact, the honesty would go far to inspire needed confidence.
Update: Paul Krugman, Nobel Prize winning economist and New York Times columnist wrote yesterday: this isn’t a recovery, in any sense that matters.
