Treasury Secretary Tim Geithner annonced that the nation's 9.7% unemployment is something we might look forward to seeing for a while. That's unfortunate. After about a trillion in "stimulus" and jobs bills, one would think things would improve more rapidly. Hmm...maybe there's something to what others have been saying about the fact that pumping money into the state is not the best way to create jobs.
They declared that it would keep unemployment around 7%.
No they didn't. They didn't even "declare" 8%, which is the number cited in the white paper, which was simply a couple of economists, using past models, determining that unemployment COULD stabilize around the 8% level. They made NO GUARANTEES.
