There is a famous and very cynical saying attributed to various dictators (and perhaps to all of your political opponents of any stripe) that holds that if you tell a big enough lie, people will eventually believe it. Currently, the “pumpers” are claiming we are undergoing a meaningful recovery after a recession that has ended. Rosy times are ahead.
Folks aren’t buying it according to this article on American Thinker:
It seems that Americans know precisely what happens when you live beyond your means and they know that that is exactly what Washington and Sacramento (plus a lot of other state capitals) are doing. It explains the origins of the Tea Party and the huge crowds that turn out for fiscal sanity rallies and the dinky crowds that turn out for pro-spending rallies. It also explains lack of support for Democrats and their union allies in Wisconsin. It is hard to push the idea that high-paid teachers should continue to get high pay when the schools in the nation are getting worse, not better. It also confirms my theory that far more Americans today have taken business, statistics, tax and economics classes than in the past (note the number of business students in all of our lives) and they know exactly what fiscal folly does. The author is correct in pointing out that confidence is needed prior to a real recovery. But there has to be something tangible to be confident about, before confidence will return.