Topic: Manufactured Crisis

The American economy has been shaped by a series of major disruptions, including the Y2K fiasco, the dot-com crash, 9/11, and the 2008 real estate collapse. These events have permanently altered the job market, particularly for millennials born after 1990 who have never experienced a period of sustained manufacturing growth or easy employment. The loss of unionized summer jobs and factory work has left younger generations with fewer opportunities for upward mobility compared to previous decades.

On C-SPAN, policy experts discussed the necessity of manufacturing crises to force politicians to address long-term economic issues like the balanced budget. Because politicians struggle with present-value issues, they require an immediate "crisis in the here and now" to enact significant rule changes. This candid admission highlights the strategic use of alarmism in national governance.

White House Press Secretary Jay Carney is criticized for using the phrase "manufactured crisis" regarding the sequestration, which critics argue is an admission of political theater. The administration's frequent use of the term "common sense" is traced back to Thomas Paine's 1776 pamphlet, though it is now viewed as a rhetorical tool to "dumb down" complex issues for the public.