A few days ago I raised the question based on a provocative American Thinker essay by Randall Hoven: How deep is this recession? Is it really the worst crisis in 70 years? I am not that well versed in – nor closely attuned to – macroeconomic data and the trends they indicate. Something seemed incomplete in the essay.
So I’m glad to see that Rossputin has weighed in with a thoughtful and thorough response, disagreeing with Hoven. Whether you are more swayed by Hoven or Rossputin, Rossputin’s conclusion is something we all should easily be able to agree with:
The Democratsâ€™ medicine will be worse than our current illness, and will turn what should have been a moderately annoying case of the fiscal flu into a devastating economic pneumonia.
The only encouraging news is that more Americans are feeling an aversion to the toxic economic prescription.