
Yesterday, with the nerve of a Soviet apparatchik announcing a phantom bumper crop, your administration took credit for 1 million jobs saved or created since the stimulus package was enacted.
And, Apparently you’re planning a
major address on Monday to mark the anniversary of the Lehman Brothers Collapse, probably to take credit for “taking us back from the brink.”
Well, we’re just tickled for you. It seems you're having a great crisis. But, while you’re creating phantom jobs or jobs in the public sector, to paraphrase Joe Pesci in
My Cousin Vinny, the rest of us are dyin’ out here.
Unemployment is at a 26-year high. And, excuse me if I wonder that some people are not being counted anymore because their benefits have run out. And if you count workers marginally attached to the workforce (that pesky U6 number), the unemployment rate is actually 16.8%. That’s almost 26 million people.

Of course, this is not ALL your fault. In fact, you’re quick to blame the last administration, which deserves its share. But there’s plenty of blame to go around. I seem to remember you calling the economy a disaster as early as 2007. Sure, a lot of the other Democratic candidates did as well, but negative jawboning like that doesn’t create confidence.
Also in 2008, somebody, we don’t know who, drove up the price of gas to over $4.00 a gallon. Could it have been George Soros and some oil sheiks? Of course this is pure speculation. It’s just so coincidental that in a presidential election year, the price of oil hits stratospheric heights. Oh, and the collapse of the Fannie Mae and Freddie Mac, that pair of Democrat slush funds didn’t help us one bit.
But, the financial crisis really, really helped you. In fact, the collapse of Lehman Brothers one year ago today was a good day for you, no wonder you want to celebrate. On September 9, 2008, the
Real Clear Politics average of

polls had McCain beating you 48.3% to 45.4%. But, then Lehman Brothers failed on September 11, 2008 and within a week, you were neck and neck at 45.7% apiece. Odd.
And, by the way, on the day you were elected, the
Dow Jones dropped 486 points, not exactly a ringing endorsement. By the end of that week it closed at 8,497, down 1,128 points. Maybe it was the fear that you would install
anti-capitalists in your cabinet?
Then there was the “stimulus bill” which was passed in February. Remarkably, another thing happened in February. A mini bear market started. The
day it was announced that Collins, Snowe and Specter would support the stimulus, the Dow began dropping from 8,280 on February 6 to 6,547 on March 9. That’s a loss of 1,743

points in a month. Oh, it was also 3,078 points lower than the day you were elected. That says the markets didn’t believe your stimulus would work.
Maybe that’s because four years earlier, a pair of economists at UCLA,
Harold L. Cole and Lee E. Ohanian warned of the damage an ill-conceived stimulus could do to the economy. In their study of the Great Depression, they concluded that FDR’s policies prolonged the misery by 7 long years. Ohanian said:
"Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump…We found that a relapse isn't likely unless lawmakers gum up a recovery with ill-conceived stimulus policies."But, that’s exactly what you instituted. Now, the world is wondering
whether we are actually bankrupt. And, China has us by the short hairs with respect to financing of our exploding debt.
FDR had years to diddle about with the economy. No one was ever a serious challenger to him, the people knew he was “trying.” Of course, the big difference now is that the nation is way better educated and many of us have access to the Internet, 24 hours a day.
So, with 16.8% of the population with a lot of time on our hands you don’t have the benefit of the doubt. Many of us have blogs and you still haven’t silenced talk radio or Fox. So, while our grandparents were very patient and believed in FDR for many years, and idolized the man to his death, we’re a lot more critical. Don't expect us to cheer. In fact, the Tea Parties this Saturday should demonstrate that. I hope you’re watching.