Bad luck? Bad faith?
By Charles Krauthammer,
“We had reversed the recession, avoided a depression, got the economy moving again. . . . But over the last six months, we’ve had a run of bad luck.”— President Obama,
Decorah, Iowa, Aug. 15
A troubled nation wonders: How did we get mired in 9.1 percent unemployment, 0.9 percent growth and an economic outlook so bad that the Federal Reserve pledges to keep interest rates at zero through mid-2013 — an admission that it sees little hope on the horizon?
Bad luck, explains our president. Out of nowhere came Japan and its supply-chain disruptions, Europe and its debt problems, the Arab Spring and those oil spikes. Kicked off, presumably, by various acts of God (should He not be held accountable too?): earthquake and tsunami. (Tomorrow: pestilence and famine. Maybe frogs.)
