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September 01, 2011

Carney: This New Plan Will Bring Unemployment Under 9.0%

Wow. Dramatic. He's promising that the plan will lower unemployment from 9.1% to 8.9%. Who knows -- maybe even down to 8.7%.

He caveats the hell out of this. Because of course the last plan was supposed to keep it under 8%.

QUESTION: If Congress were to pass the package that the President's going to announce, unemployment would be under 9%?

JAY CARNEY: Based on, when you're talking about economic predictions, yes. Economic analysts, economists will be able to look at this series of proposals and say that 'based on history, based on what we know, based on their collective expertise, that it would add to economic growth and cause an increase to job creation.

And based upon prior assumptions and models that caused them to project 1.4 Keynesian multipliers and sub-8% unemployment.

He forgot to mention that one -- based on the same assumptions of liberal economists' that already proved to be false.

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posted by Ace at 03:16 PM

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