Posted on 12/13/2009 7:47:02 PM PST by SeekAndFind
President Obama's top economic adviser Lawrence Summers today for the first time predicted that job growth would begin as early as this spring.
"I believe that, as do most professional forecasters, that by spring, employment growth will start to be turning positive," Summers told ABC's "This Week."
It's the first time the White House has predicted job growth on such a short timetable.
Summers would not commit to a timeline during an earlier ABC News interview on Dec. 4, the day the last jobs report was released. That jobs report showed the national unemployment had dropped in November, from 10.2 percent previously, to 10 percent. At the time, Summer advised caution.
"Certainly we got an indication that some very serious problems were abating today, but no one should be declaring victory," he said then.
Yet today, he touted those same numbers.
(Excerpt) Read more at abcnews.go.com ...
Quote from Larry Summers :
“Make no mistake, we were losing 700,000 a month when President Bush turned the economy over to President Obama. The number last month was 11,000,”
“These things happen in stages, First, GDP goes up. That has happened. Then, hours that are worked by workers who already have jobs go up. That’s starting to happen. Then employment goes up. We got very close to that this year, this month, with only 11,000 jobs lost. And then unemployment starts to come down. ... Most professional forecasters are now looking for a return to job growth by spring.
“Today, everybody agrees that the recession is over, and the question is what the pace of the expansion is going to be,”
Council of Economic Advisers chairwoman Christina Romer agreed the recession was over in technical terms, but not in the minds of many people.
It isn’t over in this neighborhood, or this state. Has this guy been smoking something or he just lying???
It’s over AGAIN? Media credibility: gone. Government credibility: gone.
Palin 2012
That’ll be a great comfort to my wife, whose brother committed suicide last Friday due to being despondent over not being able to get a job since he was laid off earlier in the year.
I like the part about “everybody agrees” excuse me but no one asked the out of work folks that I know.
Lying POS.
Larry Summers knows that everyone who is a conservative will be in forced labor camps by next summer
Chauncy Gardener “ There will be growth in the spring”
Ya wanna bet, Larry?
Put your job where your mouth is.
If you are wrong, you and 0bama resign.
If you are right, I’ll resign.
~~Harvard Economic Society, October 19, 1929
"Business will turn for the better this month or next, recovering vigorously in the third quarter and end the year substantially above normal."
~~Harvard Economic Society, May 17, 1930
and the stimuloss would keep unemployment at 8%....
OMG..my heart goes out to you, your wife and your family. Just a reminder to everyone..SUICIDE is a permanent solution to a temporary problem.
one of Peter Sellers best non-comdey roles
haven’t they been declaring the recession over for several months?
Thank you.
I suppose this is going to give them time to “cook the books” and put out some more phony unemployment and job creation numbers.
Didn’t you read the stories yesterday about the growth of Federal workers. They’re just papering the house...
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