Don't Believe the Double-Dippers
From Cato's Alan Reynolds in Thursday's WSJ:
"Using statistical trickery to convert a weak job market into an imminent recession has become a bipartisan political strategy. Robert Reich and other big government Democrats play the "double dip" card to peddle more deficit spending on refundable tax credits and transfer payments. Conservative Republicans often become double-dippy for very different reasons—to argue (quite plausibly) that hundreds of billions in "stimulus spending" has proven counterproductive so far, contributed to the debt, and will eventually lead to higher taxes.
Those who want to know what is going on must sift through all of this bipartisan gloom to distinguish between: 1) agenda-driven dire warnings and 2) the boring reality of a sluggish recovery being partially paralyzed by ominous threats of punitive taxes and onerous regulation."