PRES. OBAMA: If we are keeping focused on all the fundamentally sound aspects of our economy, then we're going to get through this. And I'm very confident about that.
MR. GREGORY: Are the fundamentals of this economy sound?
DR. ROMER: Well, of course the fundamentals are sound in the sense that the American workers are sound, we have a good capital stock, we have good technology. We know that, that temporarily we're in a mess, right? We've seen huge job loss, we've seen very large falls in GDP. So certainly in the short run we're in a, in a bad situation.
Gee, where have we heard that one before? And what, pray tell, did the Obama camp think of the "well the fundamentals are the workers" back then?
Politics. Psh. Enough.