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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (486372)	6/8/2009 10:55:27 PM
From: tejek	Read Replies (1) \| Respond to of 1573221

Watching Fox News Sunday, I caught a panel on which Obama economic advisor Austin Goolsbee conceded that the administration had previously predicted unemployment would top out at around 8%, that it was now up to 9.4%, and that double-digit unemployment was a distinct possibility in the near future. Goolsbee didn't resort to the administrations's blather about "saving or creating jobs," but he did repeat its fustian about how last month's loss of 345,000 jobs (resulting in a half percentage point jump in the jobless rate) is somehow good news because it beat predictions (I don't recall him saying whose) of even more dire loss numbers. It made me wonder why, if those predictions either existed or were serious, the Obama administration would have previously predicted that unemployment would top out at 8%? What's pathetic is this analysis. Since this recession started, its been well-known that unemployment could well go over 10%........much higher if we went into a depression. As for unemployment predictions.....each month research firms estimate how many jobs will be lost. Then they watch to see what ADP and the Dept of Commerce [I think its Commerce that reports job losses] report. Yahoo lists the estimates on its economic calendar......here is this week's economic indicators that will be reported: biz.yahoo.com. Having said all that, I owe you all an apology. I thought your pundits were lying when they say the things they do. Now I realize they are as uninformed as the rest of the wingers. No wonder you all are so confused.

To: Brumar89 who wrote (486372)	6/9/2009 9:03:07 AM
From: i-node	1 Recommendation Read Replies (2) \| Respond to of 1573221

This interview was a terrible performance on Goolsbee's part. Mostly, the repeated blaming of the prior administration -- just over and over again. It was particularly annoying to me, given that Bush and Obama worked out a deal beforehand for Bush to fund GM and allow Obama an opportunity to deal with the crisis as he saw fit. This was an awful selfless act on Bush's part and few presidents would have been so accommodating. Then, to have these jerks try to accuse Bush of "kicking the can down the road" is just sickening. This crisis that the liberals, in concert with the UAW, have created over a period of decades, and they want to blame Bush for it? I really felt embarrassed for Goolsbee during this interview.