An otherwise straightforward report on bad economic news on Friday's NBC Today cited economist Diane Swonk, who argued government stimulus prevented things from getting worse: "We basically had a massive coronary during the financial crisis....Financial stimulus and monetary stimulus, you know, got us to the stage where we're healing but we're in still in a lot of rehab."
Correspondent Tom Costello set up the sound bite by declaring: "To get things moving, the government has already cut payroll taxes while the Fed has pumped in $600 billion of stimulus money." He lamented: "But more government spending is unlikely given the political battle over the debt ceiling in Washington."
Diane Swonk

By Kyle Drennen | June 3, 2011 | 2:54 PM EDT
By Julia A. Seymour | January 7, 2011 | 11:46 AM EST
A sharp drop in the unemployment rate from 9.8 percent to 9.4 percent "surprised" analysts on Jan. 7, but Mesirow Financial's chief economist Diane Swonk warned CNBC viewers that it was an "anomaly."
The drop in unemployment rate confused some because in the same report the Bureau of Labor Statistics reported only 103,000 overall nonfarm payroll gains in December 2010.
CNBC's "Squawk Box" panel reacted to the falling unemployment rate by calling it "sort of a fluke," an "anomaly" and predicting it would rise again. CNBC's Rick Santelli suggested the rate dropped "because people are disenchanted' and dropping out of the labor force."
