Marc reports on the Democrats' mood:
I detect among some Democrats in Washington a palpable unease about the direction of the U.S. economy, and about the unemployment rate in particular. Notwithstanding hindsight bias, it is fair to say that the decline in the rate of the growth of the unemployment rate -- read that carefully a few times -- isn't responding as well as some Democrats had hoped to the $800 billion stimulus package that was sold as a jobs creator.
[...] The problem is that the unemployment rate is a big political number, and a rate that exceeds 10.0 -- another artificial level -- is tough. Democrats worry that if the UI rate isn't down substantially by the time voters make up their minds -- roughly, a year from now, mid-summer, 2010, their party will suffer. It's one thing to say that voters don't blame Democrats for the UI rate now -- they don't -- and it's entirely another to presume that voters won't be angrier at the slow pace of progress by this time next year.
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