White House Press Secretary Jay Carney said Wednesday that the U.S. economy has not recovered three years after the end of the recession. Despite this admission, Carney still saw fit to blame former President George W. Bush.
“I think people are still hurting. I think the economy has not recovered, and it’s not where it needs to be,” Carney said at his daily White House press briefing Wednesday.
Carney said the country was still “emerging” from a recession, despite the fact that the recession ended exactly three years ago in June 2009.
Carney pointed to a recent report from the Federal Reserve Board that found that median household net worth had declined by almost 40 percent from 2007 to 2010 – a fact he said highlighted the severity of the 2007-2009 recession.