David Leonhardt on the Ratf*^#: Understanding the U.S. Reponse to the Great Panic

I don't want to blame the Obama administration for the fact that the unemployment rate is kissing 10% and will in all likelihood stay there for a while--I blame the Bush administration and the McCain political team and the Republicans in congress and the monstrous disaster for America that is the Republican Party. Without Obama and company the unemployment rate would not be kissing 10% but would be 12% or 15% right now.

But it is definitely a ratf*^#...

David Leonhardt tries to make sense...