That’s right, Senator Kerry is basically calling all of you a bunch of dummies and thinks everything is just ducky with the American economy:
Times are tough, especially among those still looking for good jobs, but Sen. John Kerry doesn't think Washington's to blame. In fact the former Democratic presidential candidate, concerned with the anger voters are aiming at Washington, says that his party and President Obama are doing a ship-shape job. [See which industries contribute to Kerry's campaign.]
"We've come back," he says of the nation, Wall Street, and the economy. "This is an amazing resurgence."
We’ve come back? Have you looked around, you elitist moonbat?
Obviously, Kerry is just another limousine liberal with no clue about the real world. Here’s some real world data for you Senator: We have lost over 8 million jobs, unemployment is right at 10%, the economy is crawling with a revised growth rate of 3% for last quarter, and the estimate on private sector growth for the rest of 2010 is a paltry 1.5%.
And to break that down a bit further Senator, for unemployment to drop 1%, we would need growth of 5% for the entire year. A 3% rate is barely enough to create jobs to keep up with population increases.
That’s not a resurgence, Senator. That’s an economic malaise. But don’t try telling that to Mr. Heinz Kerry because we’re back baby! And you people are too dumb to realize it:
"I think there's a comprehension gap," said Kerry. His point: While people may not be feeling the benefits of the bailouts and healthcare reform yet, Congress has been working with Obama to right the economic ship. […]
Maybe, he concluded, the Democrats should change their communications strategy "to better sell what we've done."
Right. Reframe the message because we’re all too stupid to get it. But the funny thing is, we do get it and they don’t. A study released today by the Harvard Business School suggests that the excessive government spending that Kerry champions as righting “the economic ship” actually hampers the private sector and creates unemployment:
…we find that fiscal spending shocks appear to significantly dampen corporate sector investment activity. Specifically, we find statistically and economically significant evidence that firms respond to government spending shocks by: i.) reducing investments in new capital, ii.) reducing investments in R&D, and iii.) paying out more to shareholders in the face of this reduced investment opportunity set. Further, we find that when the spending shocks reverse (through a relinquishing of chairmanship), most all of these behaviors reverse. Finally, we also find some evidence that firms scale back their employment, and experience a decline in sales growth.
Now that’s a big blow to all the liberal academics – the entire Obama Administration included – that have always harped on a Keynesian spend-your-way-to-prosperity economic approach. Common sense however, has always told others the opposite: You can’t spend your way out of debt.
The real world – and its economic data – doesn’t lie, Senator. That’s for the politicians trying to justify their pork-barrel spending.