Quote of the Day

Alan Blinder, writing for The Wall Street Journal, on the serious lack of new jobs in the U.S. economy:

The fraction of the population that is employed (58.2%) is now lower than it was when the recession officially ended in June 2009 (59.4%). The share of the unemployed who have been jobless for more than six months is now a stunning 44.4%. (snip) All this adds up to a national jobs emergency. Tragically, however, it is not being treated as such.

Unfortunately, his solution for the problem is more government spending. Professor Blinder is a former vice chairman of the Federal Reserve.