After being told the “Great Recession” ended over a year ago, in June 2009, now White House propaganda minister, Robert Gibbs comes out and says, “economic recovery is going to take an enormous amount of time.” Asked to clarify exactly what that meant by media, he said, “it’s going to take several years.”
“Gibbs’s dim projection comes more than 20 months after Obama’s top economic advisers predicted that if Congress enacted the president’s economic stimulus package (which it did in February 2009 at a cost of $787 billion), the national unemployment rate (7.7 percent in January 2009) would drop to 7.0 percent by the fourth quarter of 2010. Today, the national unemployment rate is 9.6 percent, and the Congressional Budget Office is predicting it will remain above 8 percent until 2012.”
Gibbs added, “what is undeniable and that you heard the president reiterate yesterday is if you look at where we were and look at how far we’ve come, we’ve not come as far as the president would like–not by a long shot–but we’re adding jobs: eight months of private sector hiring, positive economic growth. Again, all of which is going to take–this is going to take an enormous amount of time. No one in this administration ever said that this was going to be easy or that it wouldn’t take some time.”
For a recession having been over for a year now, things have continued growing worse every day. This seems to be the real “New Direction for America” Nancy Pelosi offered in 2006.