It is hard to believe we are heading into another Holiday season with unemployment at 10%, and no one seems to give a shit. The DOW is up, Wall Street is fat, corporate profits are up, so I guess DC thinks there is no problem. I think that is part of the reason Obama is grudgingly supporting the tax cuts for the rich, because other than unemployment insurance extensions, what else is there that can get done? Congress certainly isn’t going to do anything, the Fed is out of ammo, and I can’t think of much the President can do other than make speeches. Sure, when it gets her some good face time, Mary Landrieu will get up there and rail against income disparity. But just try and get her to actually vote for anything that lowers unemployment. Does the administration have any authority they are not using?
And I suspect it is going to stay that way. The GOP solution is tax cuts for the rich, and that is about all that will get through the house next year. And then they will sit back and probably gain more seats in 2012, because they’ve made sure the economy hasn’t recovered. The whole thing is depressing and you just feel so helpless.