But if you listen to economic rocket scientists like Cone, you wouldn't know that most of the problems with these programs can be laid DIRECTLY at the feet of Democrats.
"It's no wonder that Dick Armey says that "economic illiteracy" is required to join the Democrat caucus in congress."
Regarding Cone's smart ass remark on the job losses, he fails to put it in any perspective besides the one that fits into his snarkfest.
"The monthly losses, as large as they are, are only a small fraction of those usually incurred during recessions. This year's decline has cut total payroll employment by less than half a percent, and the impact on workers' incomes has been small. "
Democrats enabled "creative mortgages".
Democrats got the sweetheart deals.
Democrats (Barney Frank, Chuckie Schumer, et al) enabled the nonsense with all sorts of tortured logic and political correctness.
Dems benefited from the contribution largess accumulated before their carefully protected house of cards collapsed.
The job loss is no where near as bad as Dems/Lefties/"Progressives" need to use for political pandering.
So what do you think?
Is Cone an economic illiterate?
Or is he just an academic and intellectual phony on this issue, as he is on so many others?
I say he's both.