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September 11, 2009

Chief Economic Advisor Larry Summers: High Unemployment for Years

You never know with these guys -- he can be pushing this forecast so if we start to gain jobs in a "mere" two years he can sing about how Obama's beaten expectations.

On the other hand, could be a legitimate assessment.

On the plus side: Republicans win in 2010 and 2012

On the down side: The economy's in a Japan-type recession for 10 years

The president’s chief economic adviser warned Friday that the nation’s unemployment rate could stay “unacceptably high” for years to come — a situation that would seriously complicate Barack Obama’s ability to convince Americans that he’s beating back the recession.
“The level of unemployment is unacceptably high,” National Economic Council Director Larry Summers said Friday. “And will, by all forecasts, remain unacceptably high for a number of years.”

Thanks to Bonnie.

posted by Ace at 10:16 PM

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On the plus side: Republicans win in 2010 and 2012 On the down side: The economy's in a Japan-type recession for 10 years The president’s chief economic adviser warned Friday that the nation’s unemployment rate could stay “unacceptably high” for years to come — a situation that would seriously complicate Barack Obama’s ability to convince Americans that he’s beating back the recession. “The level of unemployment is unacceptably high,” National Economic Council Director Larry Summers said Friday. “And will, by all forecasts, remain unacceptably high for a number of years.” Thanks to Bonnie. posted by Ace at 10:16 PM \| Access Comments <script language="javascript" src="http://adserver.adtechus.com/addyn/3.0/5235/1131537/0/170/ADTECH;loc=700;cookie=info;target=_blank;key=key1+key2+key3+key4;grp=[group]"></script><noscript><a href="http://adserver.adtechus.com/adlink/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" target="_blank"><img src="http://adserver.adtechus.com/adserv/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" border="0" width="300" height="250"></a></noscript>	Recent Comments [/i][/i][/b][/b]Christopher R Taylor[/i][/i][/b][/b]: "[i]Go. 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