UNEMPLOYMENT RISING: The latest, rather grim, jobs report reveals that it now sits at almost ten percent.

OBAMA'S VEER TO THE ECONOMIC RIGHT: Paul Krugman argues that the president's recent comments on the economy indicate a profound shift to the fiscal right. "But let’s be frank. It’s getting harder and harder to trust Mr. Obama’s motives in the budget fight, given the way his economic rhetoric has veered to the right. In fact, if all you did was listen to his speeches, you might conclude that he basically shares the G.O.P.’s diagnosis of what ails our economy and what should be done to fix it. And maybe that’s not a false impression; maybe it’s the simple truth."
He makes a point of quoting the president's most recent address, where Obama said: “Government has to start living within its means, just like families do. We have to cut the spending we can’t afford so we can put the economy on sounder footing, and give our businesses the confidence they need to grow and create jobs.” I would argue that he's correct, but Krugman remains unconvinced.

James Fallows agrees.