Doubling down on failure is never a good idea (felt the need to state the obvious).
Via Politico:
A recovery that looked strong at the start of the year sputtered last month, with the economy adding a mere 69,000 jobs in May — well below expectations of 150,000 new jobs — and the unemployment rate ticking up slightly to 8.2 percent, the Labor Department reported. The May numbers capped a stunning reversal from monthly reports of more than 200,000 new jobs as the headwinds of Europe and a broader global slowdown have struck the U.S. economy. […]
Alan B. Krueger, chairman of Obama’s Council of Economic Advisors, said in a statement that the nation’s economic woes “were long in the making and will not be solved overnight.”
“We are still fighting back from the worst economic crisis since the Great Depression,” Krueger said, putting the best spin on the numbers by adding, “Today we learned that the economy has added private sector jobs for 27 straight months, for a total of 4.3 million payroll jobs over that period. The economy is growing but it is not growing fast enough.”
“There is much more work that remains to be done to repair the damage caused by the financial crisis and deep recession that began at the end of 2007. Just like last year at this time, our economy is facing serious headwinds, including the crisis in Europe and a spike in gas prices that hit American families’ finances over the past months. It is critical that we continue the President’s economic policies that are helping us dig our way out of the deep hole that was caused by the severe recession.”