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Aghast at the Latest Unemployment Projections March 17, 2010

Posted by geoff in News.
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Calculated Risk posted an excerpt from Geithner et al.’s testimony before Congress yesterday. Specifically, he posted a portion from the Joint Statement by Geithner, Orszag, and Romer dealing with the projected GDP and unemployment rate. The part that caught my eye was:

“The forecast projects that in the fourth quarter of 2011, the unemployment rate will be 8.9 percent, and that by the fourth quarter of 2012, it will be 7.9 percent.”

Make you wonder how it looks on The Chart, don’t it? Well, wonder no more:

Are you freaking kidding me? Do you see how high those numbers are, and how long they’re that high? And they actually have the temerity to tell the American people to suck it up for 2 more years while they pursue other legislation? No wonder they were getting drilled by the House Appropriations Committee. Oh sure, Geithner said it was “unacceptable,” but it’s been unacceptable for over a year now.

When is he going to give us an acceptable employment situation?

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Comments»

1. Car in - March 17, 2010

I wonder what that chart will look like if HCR goes though? And then Cap and Trade.

2. Cathy - March 17, 2010

Thanks, Geoff.

Happy Green Beer Day, folks..

3. kevlarchick - March 17, 2010

Yeah, so much for the HARD PIVOT. Although I can’t say I trust any government plan to increase employment. Just another handout.

I just wish they’d cut taxes and get the hell outta the way. Won’t happen tho.

4. Cathy - March 17, 2010

…cut taxes and get the hell outta the way.

Yea, Kev. Exactly what I keep saying to myself too.

5. lauraw - March 17, 2010

And quit scaring the money, would be nice too. Every time this jackass opens his mouth he’s making an enemy out of profit in some huge vital industry.

6. daveintexas - March 17, 2010

Hey now, jobs and salaries are moving up in the public sector.

shit.

7. kevlarchick - March 17, 2010

Look how they’ve targeted Toyota, only because they are non-union. It’s so transparent.

8. daveintexas - March 17, 2010

Next car I buy will be another Toyota.

9. kevlarchick - March 17, 2010

I’ve driven them for years and love them.

10. skinbad - March 17, 2010

If someone gave me the choice of a Corolla with 50k miles or a new whatever GM’s compact (Aveo?) is and told me I had to drive it for 10 years and to choose the one I thought I would have to put less money into, I would take the Toyota.

11. daveintexas - March 17, 2010

Oh yeah.. we’ve got a Camry with a zillion miles on it, no headaches at all.

12. HeartlessLibertarian - March 17, 2010

This is the new hedge bet, since the old hedge bet failed so spectacularly. Now, if things get even a smidgen better, they can crow about how much the stimulus “helped.”

This administration isn’t smart, but it sure is clever.

13. MCPO Airdale - March 17, 2010

I’ll bet anyone here 10 Euros that unemployment remains at around 9% (government figures) for another eleven months.

14. Cathy - March 17, 2010

Yep. Methinks attacks on Toyota are all political.

15. Lipstick - March 17, 2010

My mother has driven a Toyota Avalon for 10 years. She loves it so much that she won’t part with it. Previously she had a BMW and before that a Mercedes, but just try to pry that Avalon from her. . .

16. Vmaximus - March 17, 2010

I am off topic I know. Sorry Geoff.

Zeke is 1 tomorrow! Happy birthday Zeke
http://www.flickr.com/photos/vmaximus/4441546259/
http://www.flickr.com/photos/vmaximus/4441551607/
http://www.flickr.com/photos/vmaximus/4441546259/

(Yes I am a imbecile, you knew that.)

17. BrewFan - March 17, 2010

Zeke is a handsome boy!

18. kevlarchick - March 18, 2010

OK so I got my census form.
Which blanks am I required to fill out? I’ve seen all the memes about not having to indicate race. Is this accurate?

19. kevlarchick - March 18, 2010

Zeke looks very regal reclining on the couch. Good dog.

20. Michael - March 18, 2010

Is this accurate?

No. Possible $100 fine for any blank or false answer.

21. Enas Yorl - March 18, 2010

I sent mine back in yesterday KC. As census forms go it was considerably less intrusive than prior ones. For race I checked “Other” and wrote in “American” in the space provided. If “Pakistani” is a legitimate “race” according to the federal gubbermint then so is “American”.

22. daveintexas - March 18, 2010

I checked “some other race” and wrote in “American”. That’s a truthful answer.

Here’s Mark Krikorian’s splanation over at NRO. An excerpt.

As Hans pointed out, 13 USC 221 says “Whoever . . . willfully gives any answer that is false, shall be fined not more than $500.” First of all, answering Question 9 by checking “Some other race” and writing in “American” is not false and therefore not a violation of the law.

23. daveintexas - March 18, 2010

“the government’s concept of “race” is simply gibberish, and I dare the Justice Department to try to defend it in court.”

24. kevlarchick - March 18, 2010

Enas, agreed. I seem to remember census forms that were much longer than this one.

Guess I’ll see you and Dave in the gulag.

25. Retired Geezer - March 18, 2010

Speaking of Toyotas, it looks like the story of the guy who claims his accelerator stuck on the freeway is unraveling.

He said he stood on the brake pedal but it wouldn’t slow down. An inspection revealed normal wear and tear on the brake pads. No sign of panicked stoppage.

26. Enas Yorl - March 18, 2010

It will be just like “Hogan’s Heroes”! A wacky time will be had by all. Joe Biden will our Sgt. Shultz: I know nothing – NOTHING! :-P

27. daveintexas - March 18, 2010

I wanna be Hogan.

He got all the babes.

course, he got murdered later too.

28. kevlarchick - March 18, 2010

If the gas pedal is stuck, can’t you put the car in neutral on the fly?

29. skinbad - March 18, 2010

Sure. Unless the shifter is somehow stuck–which I don’t recall hearing is a problem. I think that would be the first, and smartest, thing to do. Your next steps are as follows:

1. Pull over and stop (brakes should still work)
2. Turn off the engine
3. Call 1-800-LAWYERS

30. kevlarchick - March 18, 2010

1-800-MICHAEL

31. Cathy - March 18, 2010

…course, he got murdered later too.

Yea. Not pretty. And IIRC he didn’t like girls IYKWIM.

Dave, you SURE you wanna be Hogan?

32. Russ from Winterset - March 18, 2010

No, Bob Crane liked the punanni. He just liked to do the “group thing” with his best running buddy, who IIRC, eventually killed him out of anger when Bob threatened to cut off his access to the type of women who were impressed by the celebrity of Bob Crane.

Dave, c’mon. You KNOW that you’re gonna be Schultz, right? Laura said so.

33. Dave in Nazi Prison Camp - March 18, 2010

I blow nuzzing!

34. daveintexas - March 18, 2010

Bob Crane, no
Col. Hogan, yes.

35. Retired Geezer - March 18, 2010

Bob threatened to cut off his access to the type of women who were impressed by the celebrity of Bob Crane.

That’s gotta be one short, pathetic list.

Just sayin’

36. Enas Yorl - March 18, 2010

I want to be Richard Dawson. That way I get to host a game show on TV later and have all the women who come on the show kiss me even if they don’t want to.

What? The list of women impressed by the celebrity of Richard Dawson is even shorter than that for Bob Crane. But it’s still a hell of a lot longer than those impressed by the celebrity of Enas Yorl.

37. skinbad - March 18, 2010

cpl NEWKIRK didnt kiss Arnold in RUNNING MAN

(Dawson was really good in that show.)

38. Barb the Evil Genius - March 19, 2010

Yeah, but at least Bob Crane was murdered. Didn’t Dawson take his own life?

39. wiserbud - March 19, 2010

Autofocus ( the film about Bob Crane) was a truly disturbing movie. He seemed like an average guy who got sucked into a whole bunch of weirdness by his “friend” who basically used him for his access to hot women.

Sadly, Bob seemed like a decent guy. His buddy was the freak. But Bob is always laughed at as having been a freak.

40. wiserbud - March 19, 2010

Didn’t Dawson take his own life?

That was Ray Combs. Richard Dawson is (as of my writing this comment) still alive.

http://www.deadoraliveinfo.com/dead.nsf/dnames-nf/Dawson+Richard

41. Romer: stimulus performed exactly as expected « Internet Scofflaw - April 12, 2010

[...] handy chart (from Innocent Bystanders) overlays the Obama administration’s prediction (dark blue) with actual numbers (red) and the [...]

42. BizzyBlog - April 13, 2010

[...] been a while since Michael’s fantasy vs. reality graph on unemployment at his Innocent Bystanders blog has made an appearance here, so let’s remedy [...]

43. Spencer, Ia Tea Party Patriots Blog » March Unemployment - April 14, 2010

[...] is Geoff’s (Innocent Bystanders) famous curve with future projection based on Congressional testimony by “Turbo Tax” [...]


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