Right now the unemployed are just a number - not a vocal group of affected people. In effect, it is the worst of both worlds. Conditions are bad and will hurt Obama in 2012, but not bad enough to cause urgency of action and therefore give him room to do what really needs to be done (fiscal stimulus since monetary policy has been ineffective).
The best we can hope for is that the lack of urgency means Obama won’t be punished that much. But it means our economy doesn't improve. The picture seems bleak to say the least.
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