Aghast at the Latest Unemployment Projections March 17, 2010Posted by geoff in News.
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?