ATMs Are Good, Uncertainty Bad & Deficits Stupid

So, President Obama went on the TODAY SHOW.

And, according to a couple of people I talked to, and some writers, he said that ATMs are destroying jobs. The quote is this:

There are "structural issues with the economy. ... You see it when you go to a bank you use the ATM, you don't go to a bank teller."

Here is the show excerpt. It's long; the relevant part starts at 3:00 or so.

And...that's not what he said. "Media Matters" has this right, I think. The President just did not say ATMs are costing America jobs. He didn't.

Still, I might not have said "structural problem," which is wrong. The fact is that economies are constantly doing things like replacing people with machines in some sectors and then hiring people somewhere else. That is not a problem at all, but a challenge.