Last January I didn't know if the economy was going to improve or not, but I also didn't think there was much evidence of improvements. I didn't think a change in the 2nd derivative was something to get that excited about. I just don't know what t
hey were thinking.
And Democrats may come to regret their eager embrace, this spring, of deficit-cutting rhetoric. Then, as now, the trouble in labour markets should have been the primary focus. With these figures sure to feature in Republican stump speeches for the next three weeks, those up for re-election will pay for their mistake.
