Obama’s top economic advisors (yes. . . He actually has a couple of those lying around the White House) did some common-core style math, and have calculated that the [partial] government shutdown earlier this month will end up costing the economy over 120,000 private sector jobs. Who’d have thought closing down a DC memorial to WWII vets could cause so much economic havoc?
Our Campaigner-in-Chief’s Council of Economic Advisors announced that the [partial] government
shutdown slimdown will result in a 0.25 percentage point reduction in GDP, and the loss of roughly 120,000 private sector jobs for the month of October. According to the same “brilliant” economic minds that brought us the 2009 Stimulus, Obamacare, and “fair share” tax increases on the middle class, a temporary 17 percent reduction in government operations might have just thrown off whatever hopes of a “recovery” we might have had.
Right. . . After five years of a declining workforce and increasingly grim private sector growth, a 16 day holiday from 17 percent of government will propel America into another great recession. At least that’s the message we’re supposed to take from the President’s crack team of Keynesian economists. Of course, on the bright side, it’s refreshing to see our buck-passing President blame someone other than his predecessor.
Laughably, the Washington examiner reported that the announcement “represents another effort by the White House to discourage further political crises relating to budgetary matters.” . . . Um, we could just pass a budget – but I guess that would be too much of a “lead from the front” approach to economic governance. To think that our economy will enter another micro-depression because of a few Barrycades around DC monuments, closing open Ocean, and shutting down parking lots at the (privately owned) Mount Vernon Estate is beyond wishful thinking for a White House that thrives off of casting stones.
The mathematics incorporated in the report are reminiscent of Obama’s “saved or created” jobs from his “shovel ready” projects. (How come we can’t get an estimate on how many jobs were destroyed or prevented by Obamacare?) But more importantly, it demonstrates the White House’s government-centric view of economic prosperity.