From the Wall Street Journal's "Real Time Economics" page, featuring "economic insight and analysis":
7.1%: What the unemployment rate would be without government job cuts....
Federal, state and local governments have shed nearly 750,000 jobs since June 2009.... No other sector comes close to those job losses over the same period.... To be sure, construction and other sectors performed worse during the depths of the recession, but no area has had a worse recovery.
This is the kind of gunshot to the foot that makes you want to run a background check on the WSJ's editorial board. Do those idiots read their own newspaper?
It remains beyond me how reasonably intelligent adults can adhere to some infantile, whackadoo ideology, such as the supply-sided or austerity kind, when that ideology has been profoundly, repeatedly discredited by both theory and empirical practice. Even a small child possesses enough reasoning capability to comprehend without benefit of either theory or empirical data that you don't fire government workers at the onset of a jobs-dumping recession and then keep right on firing them. Such action just might result in higher-than-necessary unemployment, which in turn just might retard a recovery.
Yet every day the WSJ's great unabashed sit amidst their rich mahogany and polished brass and cultivated ferns and philosophize loftily about an economic paradise that's been as conceptually stupid for the last 30 years as it was in the Gilded Age. And for reasons beyond me as well, we count these privileged imbeciles among the "elite" thinkers of our age.