Larry Summers: Slow down in Google searches means economy is recovering

Posted by: ST on July 17, 2009 at 7:29 pm

Blockbuster news:

Of all the statistics pouring into the White House every day, top economic adviser Larry Summers highlighted one Friday to make his case that the economic free-fall has ended.

The number of people searching for the term “economic depression” on Google is down to normal levels, Summers said.

Searches for the term were up four-fold when the recession deepened in the earlier part of the year, and the recent shift goes to show consumer confidence is higher, Summers told the Peterson Institute for International Economics.

Summers continued the administration’s push-back against critics of President Barack Obama’s handling of the recession, defending the economic stimulus package against Republicans who have tried to paint the program as a failure because it hasn’t stemmed the unemployment rate.

“We pledged at the time the Recovery Act became law that some of the spending and tax effects would begin almost immediately.,” Summers said in prepared remarks. “We also noted that the impact of the Recovery Act would build up over time, peaking during 2010 with about 70 percent of the total stimulus provided in the first 18 months. Now, five months after the passage, we are on track to meet that timeline.”

Sigh. Go back to sleep, Larry. And when you wake up, if you’re finally ready for a reality check you might want to read this.

No wonder the Treasury Department was looking to hire a cartoonist/humorist. Turns out that Summers isn’t very funny. Nor are both of his bosses.

The stimulus is working!

The stimulus is working!

Cartoon drawn by Birmingham News’ Scott Stantis.

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14 Responses to “Larry Summers: Slow down in Google searches means economy is recovering”

Comments

  1. Ron Russell says:

    Is this suppose to be some undisputed scientific fact—please someone pass me the kool-aid.

  2. gary indiana says:

    Don’t you think that after all the searching for so many months, people would have found enough info on depression and moved on? Or can’t they find this stuff on google?

  3. So, is Biden writing Summers’ material? It has his … “touch” to it. /:)

  4. NC Cop says:

    Tomorrow’s headline: Larry Summers says that the sun coming up is proof that the economy is getting better!

  5. Carlos says:

    Hey, how much can you expect from a former prez of Hawvud? One that was unceremoniously dumped because he posed an hypothetical “what if” question involving sexual division of abilities and a visiting female prof almost got the vapors?

    If one expects any sense coming from either existing Ivy League or former Ivy league presidents, you’ll look a long time and discover nothing. The combined total of their common sense would be somewhere south of a good farmer’s.

  6. Texas Vet says:

    I wonder… how many people who lost their jobs can still afford the cost of internet service..If not that maybe they have turned to looking up SOCIALISM! The buffoonery continues….

  7. Great White Rat says:

    Anthony, I may apply for a job writing gaffes for Biden. It’s steady work and clearly recession-proof. l-)

  8. Glenn Cassel AMH1(AW) USN RET says:

    Methinks larry is need of a cattle prod planted squarely on his ass. The shock might do him some good. And while were at it, don’t forget that blithering idiot, joe biden.

  9. 2Hotel9 says:

    Why, again, is this moron anywhere near the government of my country?!?!

  10. Leslie says:

    Dang! The Onion was going to use that very headline in next week’s issue.

    ;)

  11. Steve Skubinna says:

    Obama’s legions of acolytes, cheerleaders and apologists are becoming more overtly stupid in their frantic spin. There’s no bottom. And if you think that at some point they are going to look in the mirror and be ashamed, then repent of their bizarre contortions, just look at the North Korean press.

    For three generations they have been cranking out laughable over the top nonsense about the ridiculous Kims with a straight face. Our media whores and chattering class and political apparatchiks have only been doing this for six months. There’s plenty of ground left unplowed in the mighty story of Obama.

  12. yo says:

    can you just imagine what the media what be saying and writing right now if a republican admin chief economist had said this?

    but it’s obama!!!(ground moving)

  13. Carlos says:

    It’s just like everything else coming out of this admin: up is down and down is up, black is white and white is some shade of gray, we’re only trying to help and don’t try to stop us, I’m for the little guy and I don’t care how much it costs.

    When His Hollowness announced his stimulus I package he stated very clearly it was designed to provide immediate incentive to stop the economic decline and to aid economic recovery in the long run. I knew the day he said it we were in for a long, long recession/depression simply because he told us all the end was in sight because of his policies.

    A year ago the saying from oaknuts was “Bush lied, people died”. Now we can start saying “Obama lied, America died”.