Monday, July 26, 2010

ObamaVille: Unemployment to Remain at 9++%

Ah, the joys of living in ObamaVille.

The White House said Friday it expects that unemployment will stay at or above 9% until 2012, but at the same time forecast that the economy will grow by at least 4% in 2011 and 2012.

4% growth is a very ambitious number.

Oh, and they also forecast a reduced deficit number--it will be $58Bn less than they thought, over the next 10 years.

Frugal.

HT: Beltway

2 comments:

steveegg said...

Where's the flashing "Unbelievable bull$hit" sign regarding the 4% economic growth when you need it? If unemployment isn't going to come down below 9% (when Porkulus was supposed to keep it below 8%), how the <expletive deleted> are we going to get 4% economic growth?

J. Strupp said...

Furthermore, if the administration has conceeded that 9%+ unemployment is in the cards for the next couple of years, why the are these guys trumpeting "Morning in America" when they should be throwing money out of helicopters in order to improve employment AND growth?

Again, it's apathy. They pushed through a puny stimulus package that didn't come close to filling the void in AD.

....and 4% growth is insanity considering that the bulk of stimulus is winding down. Where's this magical 4% going to come from?