Plan G: Pulling the Keynesian Fire Alarm
Falling Dominoes: Kenneth Adelman Defects to Obama

Come Back to Stanford, Eddie Lazear!

When Dana Perino is telling reporters that you don't know what a recession is, it's time to leave DC:

Think Progress: Perino Denies Recession: Only A Few Regions Of The Country ‘Are Hurting Right Now’: Yesterday on CNN’s late edition, Chairman of the President’s Council of Economic Advisers Edward Lazear told host Wolf Blitzer, “We are seeing what I think anyone would characterize as a recession in certain parts of the country.”... Today, Fed Chairman Ben Bernanke echoed Lazear’s sentiments, saying that the nation is facing “a serious slowdown in the economy with serious consequences for the public,” but stopped short of labeling the downturn a recession.

But during a press briefing on Air Force One today, White House Press Secretary Dana Perino dismissed Lazear’s and Bernanke’s concerns. She argued instead that there are always “some regions” of the nation that are “hurting”:

PERINO: I think what [Lazear] was saying is that there are parts of our country that are hurting right now. … Economic cycles always have — someone is on the up and someone is on the down, even when you have a country that experienced, as we did, 52 consecutive months of job growth, you end up with some regions of the country not doing as well as others...