NYT Laments the Failure of a Doomed Policy
J.D. Foster /
The New York Times got it half-right. Friday’s jobs report was highly discouraging, causing the Times to reflect that “there’s just no positive spin for this.” And you’d better believe they tried.
In July, there were 131,000 jobs lost, and the unemployment rate held steady at a worrisome 9.5 percent only because so many potential workers are giving up and leaving the workforce entirely — all adding to the perception of a “dissolving recovery.”
The Times complains the Washington policy response has been “inadequate, at best,” and tsk-tsks that a puny little $26 billion spending bill to bail out the teachers’ unions was all the Congress could muster. (more…)