President Obama’s former chief economist Austan Goolsbee, who is actively fundraising for the president’s reelection campaign, had a rather odd explanation for the economic woes on Sean Hannity’s Fox News show (via RealClearPolitics):
“Now, at the beginning of this year we get earthquakes, tsunamis, revolutions in the Middle East, European financial crises, now they even have earthquakes out of Washington, D.C. I mean, we’ve had a series of things that have put some heavy blows and slowed the economy back down again. But, I think it’s a little — I don’t think you want to confuse something that is way down and starting to grow out.”
Hmm. So that’s why explains the high unemployment rate, the S&P downgrade, the slow growth rates, etc. But what’s really odd about Goolsbee’s remarks is that he left out a terrible menace to the economy: ATMs.
