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Monday, November 02, 2009
Michael Barone :: Townhall.com Columnist
Hold the Champagne: Happy Days Aren't Here Again
by Michael Barone
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Will Congress pass Obamacare by the end of the year?

The recession is over, we are told. The Commerce Department announced Thursday that the economy grew in the third quarter of 2009 by 3.5 percent. Great, huh?

Maybe not. About half that growth came from the Cash for Clunkers program, which transferred into the third quarter auto sales that would have occurred later. The expiring tax credit of $8,000 for first-time homebuyers stimulated some house sales. Most of the impact of the $787 billion stimulus package, we are told by the Obama White House, has already been felt.

Arguing with Idiots By Glenn Beck

"There were few signs in the new data," writes The Washington Post's Neil Irwin, "that the private sector will be able to sustain that growth once the government pulls back." Or, as Peggy Noonan writes in The Wall Street Journal, "No one has any faith in these numbers."

And no one has much confidence that unemployment, which hit 9.8 percent in September, will decline significantly any time soon -- or that the policies of the Obama administration and Democratic congressional leaders will stimulate the creation of new jobs.

Higher tax rates on high earners, which will take effect when the Bush tax cuts expire next year, will certainly not create jobs. The taxes and increased federal spending in the Democrats' health care bills won't, either. Nor will the increased cost of energy that would be imposed by the Democrats' cap-and-trade legislation.

As for the stimulus package, blogger Daniel Blatt notes that twice as many Californians filed for unemployment benefits last week than the total number of California jobs that were "created or saved," as estimated by recovery.gov.

So we may be facing an extended period of high unemployment with a liberal government in office. An interesting question for political analysts -- and elected politicians -- is what effect this will have on public opinion.

History gives us some clues. The one similar extended period that comes to mind was the second term of Franklin Roosevelt, when a serious recession hit the economy in 1937 and unemployment continued stubbornly above 10 percent until wartime mobilization began in the 1940s.

Gallup polls tell us that Roosevelt continued to enjoy positive job approval, significantly above Barack Obama's current level of 52 percent. But Roosevelt's policies fared far worse. Continued...

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About The Author
Michael Barone is a Fox News Channel contributor and co-author of The Almanac of American Politics. He is Senior Political Analyst for the Washington Examiner and a Resident Fellow at the American Enterprise Institute, a Fox News Channel contributor and co-author of The Almanac of American Politics.
 
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happy days are...
not here again and probably won't be appearing any time soon...that's the sad part! The good part is more Americans, through televison and the internet...etc, have a better understanding of the economy nowadays and they can do something about it in 2012!! Unless of course they, a majority of folk, enjoy big government and the slow or fast down grading of the American standard-of-living, which will surely come with "big government"...we might all become "even" in the process {Obama's goal...share the wealth} but we'll each have far, far less of the pie...not the rich tho', they'll still be eating well!! Those progressives that just think the world of us, remaining peons, will see to it that we are dependent on big government...you know like other socialist type countries in the world; you can name them.

Anne
I see there is no reason to go further with this degenerate. All he can do is state lies and form his own little world where he is the majority. What's up with the LMAO? Everyone knows that's what people do all the time when they know they are wrong, but are just saying what they are told to say. A LMAO once in a while is a laugh, THAT, is an idiot!!!
ROFL!!!!
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