Write it down - June 2011 - Obama administration awakes to realize that it is private business and not the government that will drive an economic recovery.
Democrats promised the unemployment number would never go higher than 8% if we passed the stimulus package. It passed and unemployment blasted through the 8% level, reaching 10%, before slipping a bit to the current 9.1% level announced on Friday.
That awful jobs report last Friday combined with other economic indicators like falling housing prices and sagging consumer confidence may have awakened the Obama administration to the argument frequently offered by the GOP: Private sector businesses will bring the economy out of the current sinkhole in which it appears to be stuck.
One of President Obama's top economic advisors, Austan Goolsbee spent the weekend defending the administration's actions on the economy. Here's a clip from Fox News;
Chairman Goolsbee showed up on various CNN shows, and continued defending the Stimulus spending while parroting statistics that the administration views as positive all through the weekend. He told ABC's Christiane Amanpour that the new push would be to assist PRIVATE businesses with government incentives, saying ;
"Our effort now as a government should be to get the private sector, to help them stand up and lead the recovery. The government is not the central driver of recovery."
I'm just wondering... Did someone in the White House finally finish reading 'The Forgotten Man' by Amity Schlaes?