Why There's No Sense Of Emergency

Just because you have a college bachelor's degree doesn't mean you're smart.  It does however mean you're much, much, much less likely to be unemployed right now.  Matt Yglesias:

It seems to me that this chart is the key to understanding today’s political economy:

Virtually every single member of congress, every senator, every Capitol Hill staffer, every White House advisor, every Fed governor, and every major political reporter is a college graduate. What’s more, we have a large amount of social segregation in the United States—college graduates tend to socialize with each other. And among college graduates, there simply isn’t an economic crisis in the United States. 

It seems to me that everyone there other than the reporters get thrown out of office if the knuckle-draggers vote them out.  It's okay, apparently.  They'll land on their feet because they have a college education.  Outside the Beltway Bubble, people are screwed.  Anything less than a degree and you're hurting brutally right now.  If you don't have a high school diploma/GED these days, you're two and a half times as likely to be out of work than a college grad.

And all the people making the decisions have degrees.  If all the people the White House and Congress are talking to are college grads, then yes...9.5% unemployment is no big deal.