Nice job, George.

The Chattering Classes

Max leads us to these pretty pictures which add one more explanation (there are many) for why there’s greater concern about the current condition of the labor force than one would expect given the admittedly not-all-that-high unemployment rate - the number of unemployed college graduates without jobs is now exceeding the number of unemployed high school dropouts. Presumably the trends are partially driven by changing demographics - as a percentage of the population, the number of high school dropouts has been falling over time. But, the point is that college graduates who are less marginalized by society generally and bigger participants in the public discourse are feeling the hurt. [Eschaton]

Now, you might say, why blame this administration. The answer is pretty straightforward. They promised a huge number of new jobs per month if Congress passed the first tax cut. Then, they promised the same thing with the second (dividend/estate tax/etc) cut. Both claims were willfully dishonest. Never in recent history has a supply side tax cut (cutting the taxes for wealthier Americans and corporations) led to an increase in new jobs.