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| Summers: Obama to keep jobless rate below 10 percent |
| 2009-01-19 |
| Larry Summers, the incoming director of the National Economic Council, predicted Sunday that President-elect Obama would keep the unemployment rate below 10 percent. "I think while we're going to see substantial job losses, frankly what's important about the president's program here is that it is going to contain what would otherwise be just a vicious cycle," Summers said on CBS's "Face the Nation". "People spend less, therefore, others earn less, therefore, they spend less." |
| Posted by:Fred |
| #14 CETA II is a good call with all the make-work phoney-baloney jobs that entails |
| Posted by: Frank G 2009-01-19 19:27 |
| #13 Does getting a handout from the gov count as a job? Professional Work-Rest Technician or some junk? |
| Posted by: swksvolFF 2009-01-19 19:05 |
| #12 Do I see "Son of CETA" on the horizon? |
| Posted by: tu3031 2009-01-19 17:25 |
| #11 Obama Will Avoid Red Giant Stage For Sure Sekret plan to avoid catastrophik bad is in the works, say Scientsists and Esperts, Reppublikans still holdouts tho. |
| Posted by: .5MT 2009-01-19 14:06 |
| #10 Don't forget who it is that gets to define "unemployment". Amazing what the power of definition is. Vis a vis a discussion last week here, we could make most all of the US a healthy rate by a simple change to the BMI formula. Once you've defined your goal, just move the number to match. |
| Posted by: AlanC 2009-01-19 09:51 |
| #9 Summers: Obama to keep "American" jobless rate below 10 percent Fixed it for you. No acknowledgement that all those jobs that move overseas in the last couple decades also took the unemployment with them. Otherwise, we'd be already headed to beyond 10% [Thanks to the political interference in the banking industry and their 'do little or nothing' hacks in the regulatory offices]. |
| Posted by: Procopius2k 2009-01-19 08:58 |
| #8 Before or after he starts curing scrofula by laying of hands? |
| Posted by: g(r)omgoru 2009-01-19 08:20 |
| #7 B-b-b-b-but listen to Guy, he's our idea man. Some good, some... er huh, not so good. Ten to 15 percent is out goal. It may get up to 19 or 21, but as Guy has indicated, our goal is to keep the jobless rate under 15 percent. |
| Posted by: Besoeker 2009-01-19 07:46 |
| #6 I'm surprised they let him say this. The past week has been one of absolute smashing of expectations, in order to prevent the emperor from appearing to actually have clothes (dirty and poorly made) at some near future point. I guess that guy Summers just can't help but stick his foot in it, can he? |
| Posted by: no mo uro 2009-01-19 05:58 |
| #5 Americans digging real American holes in America, and then filling them in again! Jobs are a cost, it's what the job does that counts. |
| Posted by: Bright Pebbles 2009-01-19 05:19 |
| #4 Keeping the bar high. |
| Posted by: mhw 2009-01-19 04:47 |
| #3 Cuz his cape would fly up over his head. |
| Posted by: gorb 2009-01-19 04:35 |
| #2 I just don't get it, why doesn't he just fly backwarcd real fast around the earth to make time goes back, until it's before the crisis again? He can do that. |
| Posted by: anonymous5089 2009-01-19 04:32 |
| #1 Stagflation here we come. |
| Posted by: phil_b 2009-01-19 01:46 |