Reply to thread

Message

<blockquote data-quote="Babagounj" data-source="post: 924615" data-attributes="member: 12952">[h=2]<a href="http://weaselzippers.us/2012/01/09/fun-fact-of-the-day-current-8-5-unemployment-rate-is-what-obama-predicted-it-would-be-if-congress-did-not-pass-his-gargantuan-825-billion-stimulus-bill/" target="_blank">Fun Fact of The Day: Current 8.5% Unemployment Rate Is What Obama Predicted It Would Be If Congress Did Not Pass His Gargantuan $825 Billion Stimulus Bill…</a>[/h]<a href="http://cnsnews.com/news/article/unemployment-rate-par-obama-s-projection-jobless-rate-without-stimulus-spending" target="_blank">(CNSNews.com)</a> –&nbsp; The 8.5 percent unemployment rate announced on Friday is in line with&nbsp; the rate the Obama administration forecast if the $825-billion stimulus&nbsp; package did not pass – it was signed into law in February 2009 and,&nbsp; besides funding myriad government projects and more public employees,&nbsp; was supposed to keep unemployment below 8 percent.&nbsp;Without the stimulus, unemployment was projected to rise to 8.8&nbsp; percent by the fourth quarter of 2010, according to a report by&nbsp; Christina Romer, then the chairwoman of the Council of Economic&nbsp; Advisors, and Jared Bernstein, then the chief economist for Vice&nbsp; President Joe Biden.&nbsp;“In the absence of stimulus, the economy could lose another 3 to 4 million more [jobs],” said the <a href="http://www.ampo.org/assets/library/184_obama.pdf" target="_blank">January 2009 report</a> by&nbsp; the Obama administration. “Thus, we are working to counter a potential&nbsp; total job loss of at least 5 million. As Figure 1 shows, even with the&nbsp; large prototypical package, the unemployment rate in 2010 Q4 is predicted&nbsp; to be approximately 7.0%, which is well below the approximately 8.8%&nbsp; that would result in the absence of a plan.”</blockquote>

[QUOTE="Babagounj, post: 924615, member: 12952"] [h=2][URL="http://weaselzippers.us/2012/01/09/fun-fact-of-the-day-current-8-5-unemployment-rate-is-what-obama-predicted-it-would-be-if-congress-did-not-pass-his-gargantuan-825-billion-stimulus-bill/"]Fun Fact of The Day: Current 8.5% Unemployment Rate Is What Obama Predicted It Would Be If Congress Did [I]Not[/I] Pass His Gargantuan $825 Billion Stimulus Bill…[/URL][/h] [URL="http://cnsnews.com/news/article/unemployment-rate-par-obama-s-projection-jobless-rate-without-stimulus-spending"](CNSNews.com)[/URL] – The 8.5 percent unemployment rate announced on Friday is in line with the rate the Obama administration forecast if the $825-billion stimulus package did not pass – it was signed into law in February 2009 and, besides funding myriad government projects and more public employees, was supposed to keep unemployment below 8 percent. Without the stimulus, unemployment was projected to rise to 8.8 percent by the fourth quarter of 2010, according to a report by Christina Romer, then the chairwoman of the Council of Economic Advisors, and Jared Bernstein, then the chief economist for Vice President Joe Biden. “In the absence of stimulus, the economy could lose another 3 to 4 million more [jobs],” said the [URL="http://www.ampo.org/assets/library/184_obama.pdf"]January 2009 report[/URL] by the Obama administration. “Thus, we are working to counter a potential total job loss of at least 5 million. As Figure 1 shows, even with the large prototypical package, the unemployment rate in 2010 Q4 is predicted to be approximately 7.0%, which is well below the approximately 8.8% that would result in the absence of a plan.” [/QUOTE]

Verification