Obama’s Top Economist: Expect Long-term High Unemployment

by Stephan Tawney on September 12, 2010

Even Barack Obama’s top economist has come to face reality: The unemployment rate isn’t falling anytime soon. Gee, ya think this might be why the administration is going after John Boehner and his tan rather than focusing on real issues?

WASHINGTON — The new chairman of President Barack Obama’s Council of Economic Advisers says Americans can expect to see the high unemployment rate continue for some time…

The unemployment rate is now at 9.6 percent, and Goolsbee declined to speculate what it might be at the end of the year.

But he says he doesn’t think the rate will be coming down significantly anytime in the near future.

Here’s the quote from his FOX News Sunday interview:

I don’t think the unemployment rate will be coming down significantly at any time in the near future.

So basically what the AP story said. But I figured you should have the direct quote.

This must all be part of the now-infamous “Recovery Summer” the administration told us about. Long-term high unemployment, a slowing growth in GDP, one in seven Americans on government assistance, and competitor nations like China kicking our collective ass.

But instead of working to fix the damage left behind thanks to his failed Keynesian economic policies, Obama and his cohorts will concentrate on demonizing John Boehner and repeating the same tired talking points about hope and change. What a sad state of affairs.



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