There are educated fools. And then there’s Lawrence Summers, the director of the White House National Economic Council.
During an appearance on ABC’s “This Week with George Stephanopoulos,” Summers said “everybody agrees the recession is over.”
MR. GREGORY: So in your mind, this recession is not over.
DR. ROMER: Of course not. We have--you know, for, for the people on Main Street and throughout this country, they are still suffering. The unemployment rate is still 10 percent.
Memo to Dr. Summers: Get a clue. A jobless recovery means the recession is not over.