Who knew it was so simple to get Wall Street back on track? Simply declare that everything is hunky dory and presto, they get back to the business of creating and blowing cash. Awesome. No need to actually look at indicators to see if it's true. Not here.
Unfortunately, unless they meant the recession is over because were heading to another depression, they couldn't be more wrong. Wages still down, houses still underwater, debt still skyrocketing, unemployment still sky high. Otherwise life is fine.
So what could this group possibly mean by calling the recession over? What they mean is that they really need it to be over soon. There are elections coming up and this economic downturn is becoming less and less Bush's fault and more and more Obama's fault. Right now it's about evenly split at about 2 years each, although Obama was in the Senate for all of it while Bush retired. It's already going to be a bad enough November for libs even with much of the public still blaming Bush. They are going to get crushed this November and if they get to 2012 with no noticeable improvement, you're going to have 6 years of Obama handling the downturn (2 Senate, 4 Pres.) and it's going to be hard to blame the two years of Bush's spending, especially since Obama signed off on all of it and helped create the useless bailout legislation while he was the President elect.
In other words, Democrats know they have almost no way of explaining the poor economy in 2010 and they will nothing to say to explain it away in 2012. The next best option is to convene the experts, the same ones who are always stunned at every economic report, and just have them declare the recession over. Game, set, match, what's on TV. Too bad people still won't be able to get jobs or credit. Combine that with the massive tax increases coming up and something tells me screaming "All is WELL!!" like some new age Chip Diller isn't going to fool the electorate come voting time.
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