Unemployment in the United States is "going to stay high" Austan Goolsbee, Obama's chief economic adviser, told Christiane Amanpour this morning on "This Week."
"This recession is the deepest in our lifetimes, the deepest since 1929," said Goolsbee, who was just appointed chair of the White House Council of Economic Advisers.
"More than 8 million people lost their jobs. It's going to take a significant push on our part -- and time -- before that comes down," he said. "I don't anticipate it coming down right away."
Goolsbee Refuses to Say How Many Jobs Obama's New Stimulus Will Create
President Barack Obama spent last week rolling out new plans to help America's struggling economy -- $50 billion in infrastructure spending and about $200 billion in tax cuts for companies' investments in research and development. But just how many jobs will these pricey proposals create?
about the same number they did last time; adjusting for scale.
ReplyDeletebottom line - it doesn't work as any 2nd year economics student can tell you.
they have yet to cut - same with the states; although at least N.J. has learned it's lesson and is doing something about it - the rest?
kick the can down the road - give it a new name by all means; something deep. with feeling that the people can reaaaaaaaaly get their arms around
I just spent the last hour reading the article that you linked to "Will Greece Default". Truly an awesome read (and I don't like reading).
ReplyDeleteIf anyone really wants to know what's up with Greece, this will fill you in. Some good riot stuff, too!
America either default or pay its creditors with devalued currency--print money out of thin air. I pick the latter. They already doing it. It is already written. Inflation is real and coming. I don't now how much inflation we will get.
ReplyDelete