At least they're consistent
To recap, four years ago the Obama administration said that if we spent nearly a trillion dollars in "stimulus" the unemployment rate would be at 5% by now. Then last month, Obama said that the sequester would be a "huge blow" to the economy.
Maybe if Obama starts to do the opposite he can both fix the economy and get a job as assistant to the traveling secretary of the New York Yankees.
2 comments:
In January 2009, White House economist Christina Romer wrote that only a stimulus of $1.8 trillion or larger was likely to drive unemployment down to 5%. The eventual amount was cut to 43% of that number, yet the 5% remains rhetorical bedrock.
Aren't conservatives supposed to scoff at "proving a negative"?
Christina Romer made that graph.
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