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Saturday, July 11, 2009

Healthy Adjustment?

CongressDaily, via RedState, reports that Treasury Secretary Geithner has downgraded the severity of the economic crisis:
Noting the rising unemployment, Geithner said what the economy “is going through is a very necessary and healthy adjustment as [Americans] go back to living within their means.” He added: “We do not have an economy that is growing again.”
Back in February, President Obama warned that not passing his stimulus bill would turn “crisis into catastrophe.” Since then, unemployment has soared to nearly 10 percent, but all we have now in a “healthy adjustment?”

It is doubtful the thousands of Americans who’ve lost their jobs in the Obama era are feeling comforted by the Secretary’s new, rosy outlook.

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