The Conservative Recovery


I posted this chart when the November jobs numbers came out:

Today’s report, which is being called bad numbers, we learned of 50,000 new private sector jobs and the loss of 11,000 more public sector jobs.

To me, this really does seem like a bad result. But conservatives in the audience need to recognize that we’re getting what they say they want. The private sector is growing and the public sector is shrinking. If you’re disappointed in the results, you can perhaps consider reviving your view of the desirability of executing this shift in the middle of a collapse in aggregate demand. But what you can’t do is say that the bad economy is somehow being caused by an Obama-era slide toward socialism. The slide isn’t happening. The explosion in government isn’t happening. The public sector is shrinking.