Snow's Freudian Slip
Hard to believe, but Secretary Snow makes Sec. O'Neill look good. I missed Meet the Press, but the transcript
You know, a Democratic president advancing tax proposals some 40 years ago said that a rising tide raises all the votes. We need to raise all the votes in this economy.
It could be a transcription error--I don't know because I didn't see the original. If it's real, that's some Freudian Slip. Here is a good exchange
SEC’Y SNOW: The U.S. economy is very weak. In fact, I would say it’s the weakest I’ve seen it in 20 years. The economy we’re looking at is pretty bleak.
MR. RUSSERT: Do you agree with that?
SEC’Y SNOW: Oh, yeah, it was bleak. And the ’01 tax plans that we talked about helped bring us out of that and gave us the shallowest and shortest recession in modern times.
MR. RUSSERT: When you made those comments, Mr. Secretary, “the weakest economy in 20 years,” let me show you what the economic numbers were compared to now. The Dow was at 10,000; it’s now 8,600. Unemployment was 4.6; it’s now 6. There were 132 million people working; there are now 130, a net loss of 1.7 million. The economy is much weaker now than it was when you said it was the weakest in 20 years.
SEC’Y SNOW: Tim, you know too much about economics to believe that statement. Economies deal with leads and lags. And what I was saying is that I saw the economy that I was dealing with, the industrial sector, very weak. And that was a leading indicator for the rest of the economy. You know, that industrial sector still hasn’t come back to where it was.
Sec. Snow has certainly lost his grip on reality.