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Wednesday, June 15, 2011

Who said that economic reporting can't be funny?

The award for the most unintentionally funny word from an economic report goes to CNBC for a report that actually said this:

"Actually, we know that Summers was advocating the Obama administration focus on job growth while he was in the administration. The problem was just that Obama was persuaded to focus on the deficit by Tim Geithner and Peter Orszag."

The idea that someone persuaded Obama to FOCUS ON THE DEFICIT is a total joke. Obama proposed budgets that had bigger deficits than ever before in history. Indeed, the size of the Obama deficits are multiples of the biggest previous deficits. But CNBC says Obama was convinced to focus on deficits. I do not think this is meant as a satire. It is just a mark of high stupidity.

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