“Obama Advisers Predict Unemployment of 8.2% by 2012” by Sewell Chan (TIMES BUSINESS DAY, 2/12/10)


          After warning that the unemployment rate might not fall at all this year, ” and would remain wall over 6 percent until 2015,” the “Economic Report of the President projected” that it would “fall to 9.2%” in 2011 and “8.2% in 2012, when President Obama would be up for re-election.” (Whew, what a mouthful to swallow!)

         I don’t have the time to read this “458-page document” but it sounds like a promise that the unemployment rate will be about two percentage points lower than the 10% average this year when the voters cast their ballots in 2012.

          This wouldn’t be wishful thinking; would it? Remember, the champions of capitalism claim that economics is a science; yet, this article doesn’t sound very scientific.

          The court jesters of the medieval era wore funny costumes. How do your business reporters dress when they sit at their computers?

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