Tuesday, February 02, 2010

"The Lost Decade" -.... found it!

If you heard the State of the Union speech you propably remember this line from President Obama:

We can't afford another so-called economic "expansion" like the one from the last decade -- what some call the ‘lost decade' -- where jobs grew more slowly than during any prior expansion; where the income of the average American household declined while the cost of health care and tuition reached record highs; where prosperity was built on a housing bubble and financial speculation.

Yup, the blame game again. It's getting old and not all true either. So lets dig a little deeper to verify that claim of the 'lost decade'.

The Lost Decade
President Obama called the "oughts" (2000-2009) the "lost decade." That was his way, yet again, of blaming Bush. More precisely, it was Obama heeding the advice of Homer Simpson.
The three little sentences that will get you through life. Number 1: Cover for me. Number 2: Oh, good idea, Boss! Number 3: It was like that when I got here.

It was like that when Obama got there. The whole decade was lost when he got there.
Or perhaps President Obama was not channeling Homer Simpson, but was channeling
James Carville channeling Homer Simpson.

The truth is always there just not so plain as it can be. That's what this administration is hoping...that you don't dig deeper.

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