Progressive and phony Republican David Frum once again shows what a shill he is for Obama. Despite the fact the Obama Boom has been proven to be a lie, Frum continues to push it. He has the audacity to claim that the economy is looking good!
It’s been a summer of bad news: Bad job news, bad housing news, bad Iraq news, bad Libya news, bad news on the Euro and the debt ceiling and — OK, let me change the subject to the good news. Because it exists, too.
1) Americans are pulling out of debt. Before the recession, households were spending 14 cents out of every after-tax dollar to service their debts. Today debt service costs 11.5 cents — and is still plunging. Americans have not spent this little on debt since 1995, and at the rate things are going, it won’t be long before households have de-leveraged themselves back to where they were in 1980.
David Frum is an elitist fool. He should get away from the cocktail parties in Georgetown and get into the real. I would love to see David Frum tell the average American that the economy is good. I would get popcorn for that!
Tags: David Frum, Stagflation, Stagnation, The Obama Boom
