Welcome to Obamaville, 2011: Downsizing the American Dream

Okay, the Memorial Day weekend is over, ladies and gentlemen, which means that we are now officially in our third Summer of Recovery, and the question is: How many more Recovery Summers can our economy stand before it all goes kaput? I mean, I hate starting out this way. There’s no good news out there. The economic news is just… Folks, it’s bottom barrel. You know me. This is not the way that I like to kick things off. This is not the attitude that I come here with. But honesty is honesty; truth is truth. USA Today: “Economic Problems Stubbornly Linger.” Chicago Tribune: “Positive Signs in an Anemic Recovery.” The “positive sign” in this story is the Republican attitude toward the debt ceiling. That’s it. That’s what’s “positive.”

Even in the Chicago Tribune, the positive thing going on in the economy is the Republican attitude on the debt ceiling. “But beneath the surface some key factors contributing to the anemic recovery are actually positive.” So “anemic” is “positive,” and they said that that guy predicting the end of the world was nuts. It goes on. There’s an outfit out there called Case-Shiller. They have a housing index. “The desire to own your own home, long a bedrock of the American Dream, is fast becoming a casualty of the worst housing downturn since the Great Depression.” Double-dip, dudes! It’s double-dip. “Consumer Confidence Takes a Surprise Drop in May.” Really? What told somebody that consumer confidence was going to rise?

“The Numbers are Grim.” Even the New York Times, the New York Times in an editorial, it’s getting — they say — tougher and tougher to prop Obama up. I kid you not. From the Morning Bell, our friends at the Heritage Foundation: “The Unstimulated Obama Economy. “Home price index, lowest point since 2006 bust, double-dip in housing prices even worse than expected.” It’s all over the place. You remember when double-dip was actually a good thing, like a double-dip ice cream cone? You hear double-dip now, you know, you run for the tall grass; you get out of the way. We’ve got unemployment numbers coming this week. ADP, the payroll firm, is estimating 170,000 jobs. Challenger, Gray & Christmas is not looking at a whole lot of job creation.



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