The White House's spin-meisters did their best Friday morning after news broke that the official unemployment rate ticked up slightly to 8.3 percent. Alan Krueger, chairman of the Council of Economic advisors, insisted the rate hadn't really risen. "[M]ore precisely, the rate rose from 8.217 percent in June to 8.254 percent," he said. So, you see, the rate was "essentially unchanged." Those 45,000 newly unemployed represented by that figure? Just a rounding error.
President Obama cautioned on Friday that "we all knew when I started this job it would take some time." But did "we" really know that? It doesn't seem that Obama's team did, judging from the rosy economic rhetoric they have used whenever it was in their interest to do so.
I'm sure those 45,000 newly unemployed will be grateful to hear that they are just a 'rounding error'.
And Obama telling us it would 'take some time'? Didn't he also say that if he didn't have the economy solved within his first three years that he would be a one-term President?
We can only 'hope'. It's time for 'change'.