more lies from Obama-- on the economy

From Tim Cavanaugh in Reason...

The ongoing recession has raised a troubling question for otherwise resurgent Keynesian economists: How can the American economy keep getting worse under the intensive care of an interventionist economic team almost universally praised for its brilliance? The answer may be that the Obama administration is dealing with a fictional economy, one that bears little resemblance to the economy the rest of us inhabit. And when the difference between fact and fiction becomes too apparent, they just make stuff up. Herewith, five big lies the administration loves to tell and the mainstream media (with some notable exceptions) love to repeat:

1. Bold government action staved off a Depression, saving or creating 1.5 million jobs.

2. “No one wants banks making the kinds of risky loans that got us into this situation in the first place.”

3. The economic crisis is a “subprime crisis.”

4. Ben Bernanke is a heroic leader.

5. The worst is behind us.

Cavanaugh expands on each; follow the link to see the details...