If the jobs report was good, they would credit Obama.

If the jobs report was bad, they would blame the Republicans.

And it was bad.

So they are naturally blaming Republicans.

If next month's jobs report is good, we're certain that they will admit that they were wrong and give credit to the GOP's austerity measures.

Right?

One key point that our half-Keynesian friends seem to ignore is that state and local governments aren't cutting back on spending because of some ideological reason.

They're cutting back on spending because they have no money to spend!

It's simple math, really.

By the way, we call these liberals "half-Keynesians" because they only seem to accept the "government spending" half of the Keynesian equation. But Keynes also supported tax cuts as a means to stimulate the economy.

But getting back to the main point: We're not surprised that liberals are so disingenuous.

But we also don't think the "blame the GOP's austerity measures" line is going to be terribly effective going into this political season.

Voters tend to, by and large, give the President blame/credit for macroeconomic conditions.

And we don't think that 2012 will be any exception.