Ding Dong! The Recession's Dead

The National Bureau of Economic Research (Who?) tells us today that not only is the recession over, it has been over for more than a year.

How did I miss that?

Six weeks before an election, and we are told that the recession is over. Coincidence? Must be.

There is no way that this blue-ribbon panel, populated principally by academics and other "researchers," could have ulterior political motives, right?

The NBER's Business Cycle Dating Committee is seven gurus neither elected by the public nor appointed by anyone who was. It uses no set method to come up with answers. The result is that the timing of recessions is inconsistent between their beginnings and ends, inconsistent among different US recessions, and inconsistent with recessions in other countries. The NBER's "method" is not transparent and lends itself to accusations of political bias.

Not to mention that Obama's former director of Council of Economic Advisors (and former NEBR member) Christina Romer is married to current NEBR member David Romer.

Don't let the staggering unemployment rate fool you; don't let the abysmal consumer confidence numbers fool you. Nor the dropping personal income or GDP. The recession is over.

Obama was hot on the campaign trail again, touting his "accomplishments" as president, and assuring us -- yet again -- that Hope will conquer all.

Hope will beat fear every day...

No, Barack; "hope" will not conquer fear; good planning and solid results will conquer fear. Two things that you cannot put on your resume. Ever.

Hope is what you turn to when you have nothing else left.

No wonder, Mr. President, even your most ardent supporters are jumping ship:

"I'm one of your middle class Americans. And quite frankly I'm exhausted. I'm exhausted of defending you, defending your administration, defending the mantle of change I voted for, and deeply disappointed with where we are right now," she said.

Thank you, ma'am. I couldn't agree more.