This chart can’t be shown too often
Remember when Obama’s crack team of economic advisers said “Give us a trillion dollars and we’ll keep unemployment under 8%”?
They also said that the unemployment rate would be about 5.2% right about now.
Well, we’re at 7.8% … a mere 50% miss.
Wish I’d been held to those accountability standards when I was working in corporate America.
Source: AEI
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The Homa Files 
January 4, 2013 at 3:40 pm |
If you can find anybody in the private sector with a good record of predicting unemplyment, interest rates, stock prices – really anything – let me know. Obama and team were silly to make a prediction, but it is even sillier to act as if ANYBODY can predict these numbers.
January 5, 2013 at 12:55 pm |
Possibly, but in that case you shouldn’t deceive the public to spend a trillion dollars based on these projections. The implication is either a) they didn’t know any better that these kind of predictions are worthless or b) they knew but were trying to mislead people. My bet is on the latter and based on the general lack of media scrutiny looks like they got away with it