The losses came from the public sector. And they were foreseeable. And they were foreseen by the President of the United States and the Speaker of the House of Representatives and the Majority Leader of the United States Senate and the majority of House members and a majority of Senators. And the President of the United States and the Speaker of the House of Representatives and the Majority Leader of the United States Senate and the majority of House members and a majority of Senators voted for bills that would have prevented that. But because in the Senate a minority of members can get their way, action wasn’t taken. Consequently, we have a horrible jobs number. Which would be bad enough, but the way the American political system works, the minority party that prevented the majority from addressing the crisis will accrue massive political benefits as a result of the collapse.
(via Ezra Klein)
