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Economist Christina Romer regrets saying jobless rate would stay below 8 percent (Obama's fault)
washington post ^ | 8/6/2010 | Lori Montgomery

Posted on 08/06/2010 7:33:17 PM PDT by tobyhill

As she prepares to step down as President Obama's chief economist, Christina Romer said Friday that she wishes she could redo one of her first official acts for the president: last January's forecast that a big shot of federal spending would save millions of jobs and keep the unemployment rate under 8 percent.

The forecast was wrong. Many economists agree that Obama's stimulus package probably saved millions of jobs, but the recession was far worse than Romer predicted. Unemployment has soared and is stuck at 9.5 percent.

Republicans campaigning to regain control of Congress have seized upon Romer's report as exhibit A in their case against the $862 billion stimulus package, arguing that the money was wasted and that Obama's economic policies have failed. The release of the latest jobs numbers Friday brought a hail of fresh GOP criticism of the measure "that was meant to keep unemployment below 8 percent," as Senate Minority Leader Mitch McConnell (R-Ky.) said in a statement.

(Excerpt) Read more at washingtonpost.com ...


TOPICS: Business/Economy; Extended News; Government; News/Current Events; Politics/Elections
KEYWORDS: obama; romer; stimulus; unemployment
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1 posted on 08/06/2010 7:33:18 PM PDT by tobyhill
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To: tobyhill

Wait a minute! Obama never said that Christina did and if he did say it it was because Christina told him to.

Now she’s fired and we can start fresh again.

Obama: “Having inherited the worst economy since the Great Depression from Bush...”


2 posted on 08/06/2010 7:35:23 PM PDT by 1010RD (First Do No Harm)
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To: tobyhill

They KNEW it was a LIE when they said it!! TYPICAL CRAP.


3 posted on 08/06/2010 7:36:12 PM PDT by Ann Archy (Abortion......the Human Sacrifice to the god of Convenience.)
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To: tobyhill
Image and video hosting by TinyPic
4 posted on 08/06/2010 7:38:07 PM PDT by Recovering_Democrat
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To: tobyhill

“Many economists agree that Obama’s stimulus package probably saved millions of jobs...”

Many economists are softer than shite, too.

As Master Chief Duntno used to say ... “figures lie when liars figure.”


5 posted on 08/06/2010 7:38:26 PM PDT by jessduntno (I wonder...how will third Manassas turn out?)
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To: tobyhill
Obama: It's Not My Fault
6 posted on 08/06/2010 7:38:51 PM PDT by 1010RD (First Do No Harm)
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To: tobyhill
I remember leading up to the first "stimulus" when unemployment was still < 8% but rising. Back then, every conservative commentator said that there was no way doing the stimulus would keep unemployment below 8% and it would aggravate a worsening situation. Yet The regime's chief economist insisted that it would be the end of western civilization unless the stimulus was passed yesterday.

Fast forward one year and who's right, 0bie's hotshot economist with all the degrees or the people who stepped back and just applied a little common sense and said this stimulus was a load of CRAP being forced on the American people.

Watch for the same thing to play out with health care in 2014 once it's fully implemented.

7 posted on 08/06/2010 7:41:07 PM PDT by YankeeReb
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To: 1010RD
Obama was claiming he was inheriting the worst recession since the Great Depression yet also from the beginning his staff was saying unemployment wouldn't go above 8%. Obama is in way over his head and his policies have made a usual recession cycle into much worse, a bankrupt America.
8 posted on 08/06/2010 7:43:38 PM PDT by tobyhill
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To: tobyhill

Whatever happened to the cutting taxes and reducing spending proven method? Oh, its Democrats running the show and doing those things are against their religion of Big Government fixes all. Can’t let that ‘conservative idea’ be proven true again. Yes, thats why they don’t employ it! Power mad Lunatics!


9 posted on 08/06/2010 7:43:40 PM PDT by tflabo
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To: tobyhill
As she prepares to step down as President Obama's chief economist, Christina Romer said Friday that she wishes she could redo one of her first official acts for the president: last January's forecast that a big shot of federal spending would save millions of jobs and keep the unemployment rate under 8 percent.

But that's not the reason she's stepping down.  Larry Summers is a horse's rump and the rest of the Wizard's of Smart are a bunch of elitist, incompetent, members of the academia community who have never owned or ran anything in the private sector, and Little Lotta was just one of the bunch.

There are so many incompetent and elitist rubes in this administration who don't even have so much as a Nobel Prize in Economics.

I would argue that in between his naps at policy meetings, that Summers is not keen on discussing anything with women he's surrounded with.  I think Obama has surrounded himself with sexist pigs.

10 posted on 08/06/2010 7:45:41 PM PDT by BigSkyFreeper (In 2012: The Rookie and The Wookie get booted from the White House.)
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To: tobyhill

I’m an economist and I say Romer and Obama are full of crap! Romer was the economist Obama hired??? Why didn’t he just hire Krugman? Or better yet Marx?

I can tell you Obama did save those jobs——only they were gov’t and union jobs! Not jobs that matter! He doled out the “stimulus” cash to all his friends. Yet people buy into the vomit that comes out of his mouth. Incredible.


11 posted on 08/06/2010 7:47:17 PM PDT by rbosque (11 year Freeper! Combatages Economist.)
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To: tobyhill

If she really regretted it she wouldn’t be headed to California to teach economics.


12 posted on 08/06/2010 7:47:33 PM PDT by cripplecreek (Remember the River Raisin! (look it up))
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To: tobyhill
Many economists agree that Obama's stimulus package probably saved millions of jobs...

WASHINGTON POST PROPAGANDA BULLCRAP!

Hundreds of economists (including Nobel laureates) took out a full page ad in national newspapers saying the stimulus was a ENORMOUS MISTAKE!

Hussein was wrong. Ballerina boy Rahm was wrong. Axeldork was wrong. BiteMe was wrong. Romer was wrong. Little TaxCheat Timmy was wrong.

Rush Limbaugh was RIGHT.

13 posted on 08/06/2010 7:48:00 PM PDT by Recovering_Democrat
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To: tobyhill
Unemployment has soared and is stuck at 9.5 percent.

That's an oxymoron. Before anyone tries to justify it, let me point out that the term does not imply a logical contradiction, but a uniting of opposite qualities. Oxymoron literally means "sharp dullness". Here we have "soared ... stuck".

14 posted on 08/06/2010 7:49:52 PM PDT by dr_lew
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To: tobyhill

“Summer of Recovery Thrown Under the Bus Event” ....Romer, welcome to the ‘under the bus’ club....


15 posted on 08/06/2010 7:51:08 PM PDT by cranked
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To: tobyhill

“Many economists agree that Obama’s stimulus package probably saved millions of jobs”

oh really? and how many? i am sure many many many many more economists feel the opposite.


16 posted on 08/06/2010 7:52:28 PM PDT by zwerni (this isn't gonna be good for business)
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To: Recovering_Democrat

Excellent post!


17 posted on 08/06/2010 7:53:39 PM PDT by KansasGirl
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To: tobyhill

Sadly, he and his cronies will leave with the loot.

You, your children and their children’s children will be paying for it.


18 posted on 08/06/2010 7:54:03 PM PDT by 1010RD (First Do No Harm)
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To: tobyhill

“Economist Christina Romer regrets saying jobless rate would stay below 8 percent”


Well, too bad you were stupid. I’m not an economist, and have a 2 year half-ass degree, and I knew this would not be the case.

Thanks talk radio and FR!


19 posted on 08/06/2010 7:54:13 PM PDT by CommieCutter (A Centrist Democrat is now defined as: between Socialism and Communism.)
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To: Recovering_Democrat

Worst president ever.


20 posted on 08/06/2010 7:54:54 PM PDT by CommieCutter (A Centrist Democrat is now defined as: between Socialism and Communism.)
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To: Recovering_Democrat

Worst president ever.


21 posted on 08/06/2010 7:55:00 PM PDT by CommieCutter (A Centrist Democrat is now defined as: between Socialism and Communism.)
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To: tobyhill
zero should put a call in to that little girl that was operating the lemonade stand. she knows more about business, finance and economics than the community organizer and the nitwits he collects.
22 posted on 08/06/2010 7:55:15 PM PDT by paul51 (11 September 2001 - Never forget)
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To: YankeeReb
Bush's unemployment average 5%, Obama’s average 10%. I remember the MSM ripping Bush when unemployment hit 6% in ‘03 but then it went down under 4.5% yet Obama gets a continual free pass with the “someone else’s fault”.
23 posted on 08/06/2010 7:55:35 PM PDT by tobyhill
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To: zwerni

“Many economists agree that Obama’s stimulus package probably saved millions of jobs”

“oh really? and how many? i am sure many many many many more economists feel the opposite.”


There’s nothing like a stat you cannot measure.


24 posted on 08/06/2010 7:58:21 PM PDT by CommieCutter (A Centrist Democrat is now defined as: between Socialism and Communism.)
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To: zwerni

“Many economists agree that Obama’s stimulus package probably saved millions of jobs”

“oh really? and how many? i am sure many many many many more economists feel the opposite.”


There’s nothing like a stat you cannot measure.


25 posted on 08/06/2010 7:58:49 PM PDT by CommieCutter (A Centrist Democrat is now defined as: between Socialism and Communism.)
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To: tobyhill
Bush's unemployment average 5%, Obama’s average 10%. I remember the MSM ripping Bush when unemployment hit 6% in ‘03 but then it went down under 4.5% yet Obama gets a continual free pass with the “someone else’s fault”.

Oh yeah, and the MSM is still pushing that line whenever they talk about employment during the Bush years which is very seldom these days.

Oh for the good old days when Bush would continually rip Clinton for the mess he inherited </s>

26 posted on 08/06/2010 8:00:35 PM PDT by YankeeReb
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To: 1010RD; All
"Obama: “Having inherited the worst economy since the Great Depression from Bush...”"

Photobucket

27 posted on 08/06/2010 8:02:33 PM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: musicman

Outstanding satire.

In Rules for Radicals Alinsky focuses on satire as a most effective weapon, but he was priming guerrillas outside the ruling hierarchy.

What we’re watching is the guerrillas running the place and they’re making a mess of it. They know how to protest, but not lead.


28 posted on 08/06/2010 8:11:28 PM PDT by 1010RD (First Do No Harm)
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To: YankeeReb
I'm sure a lot of people forgot how Bush did stimulate the economy, gave tax rebate checks. The only problem was when congress gave the rebates to everyone, including non-taxpayers. It did stimulate the economy but because of giving money to non-taxpayers it also increased the debt.
29 posted on 08/06/2010 8:11:33 PM PDT by tobyhill
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To: tobyhill
What did they expect? They followed FDR's big spending model.

And unemployment under him stayed high year after year after year...

30 posted on 08/06/2010 8:12:56 PM PDT by Siena Dreaming
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To: tobyhill
stuck at 9.5 percent.

That is BS too. If they are willing to post and admit to that number, it's guaranteed to be twice as bad in the real world.

Liar; obama

cheater; feds

thief; congress

con artist; msm

distraction: hollywood

31 posted on 08/06/2010 8:14:50 PM PDT by existtoexcel
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To: Recovering_Democrat

off topic but anyone notice that most photos of Bush 2 involved smiling often yet this guy O is always angry ? Compare notes and let me know.


32 posted on 08/06/2010 8:15:23 PM PDT by TheRevolution1776
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To: TheRevolution1776

Sometimes a dose of reality can make one angry.


33 posted on 08/06/2010 8:17:54 PM PDT by tobyhill
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To: tobyhill
Many economists agree that Obama's stimulus package probably saved millions of jobs, but the recession was far worse than Romer predicted.

I suppose if you are still working, your job is in the "saved" category.

34 posted on 08/06/2010 8:23:35 PM PDT by exDemMom (Now that I've finally accepted that I'm living a bad hair life, I'm more at peace with the world.)
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To: tobyhill

Girls can’t do math.


35 posted on 08/06/2010 8:38:50 PM PDT by fullchroma
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To: tobyhill

36 posted on 08/06/2010 8:38:55 PM PDT by jimbo123
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To: fullchroma

Muslims hate women.


37 posted on 08/06/2010 8:44:57 PM PDT by jimbo123
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To: existtoexcel
it's guaranteed to be twice as bad...

A frequent guest on coast to coast and economist whose name escapes me has said that if you tally up the true unemployed number in the workforce the number goes up to the high teens to low twenties.
38 posted on 08/06/2010 8:48:48 PM PDT by SpaceBar
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To: tobyhill

These are the same economists that predicted that recovery would be robust by LAST August.

Economists. What a schtick. If you’re right half as often as your plumber is about the economy, you’re lauded as “brilliant.”


39 posted on 08/06/2010 8:48:51 PM PDT by cookcounty ("Today's White House reporters seem one ball short of a ping pong scrimmage.")
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To: 1010RD
"Obama: “Having inherited the worst economy since the Great Depression from Bush...”

Hmmm.....should be:

"Obama: “Having inherited the worst economy since the Great Depression from Bush.......Christina Romer....”

40 posted on 08/06/2010 8:52:24 PM PDT by cookcounty ("Today's White House reporters seem one ball short of a ping pong scrimmage.")
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To: 1010RD
"What we’re watching is the guerrillas running the place and they’re making a mess of it. They know how to protest, but not lead."

I agree!!

Photobucket

41 posted on 08/06/2010 9:12:32 PM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: cripplecreek
She was an econ professor at Berzerkly before she joined the obamanoids. She's just going back to her former job. The fact that Cali is broke won't affect her at all. She is above the fray as a tenured 'rat.
42 posted on 08/06/2010 9:18:18 PM PDT by hinckley buzzard
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To: tobyhill

“Except for the unexpectedly severe collapse in economic growth, Romer said, the report has turned out to be “very accurate.”

Except that it was all a big lie, the report has turned out to be very accurate...


43 posted on 08/06/2010 9:25:03 PM PDT by SmartInsight (Bad officials are elected by good citizens who do not vote. ~ G. J. Nathan)
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To: KansasGirl; Recovering_Democrat
Excellent post!

Agree. Great find. The Ministry of Truth hasn't whitewashed this over yet.

44 posted on 08/07/2010 5:47:36 AM PDT by Timocrat
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To: YankeeReb
What you don't seem to understand is that they lied on purpose in order to profit from the policy initiatives being enacted.

They are cons, plain & simple.

They have access to the legal, financial & taxation power derived of the US gov't.

Their goal is to asset strip as much wealth before it all comes crashing down.

To take their statements at face value is to assume that there was some inherent, underlying good faith intent.

Nothing could be further from the truth.

As long as Americans view this situation like you apparently do, ie merely some political posturing and perhaps lying to advance certain agendas, they will fleece the sheeple blind.

45 posted on 08/07/2010 5:53:17 AM PDT by semantic
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To: Recovering_Democrat
It is posts like your that assure me that the USA is doomed.

Wrong? LOL!

Is the petty con working the 3-card monte table "wrong" when he tells a sucker he can "win".

After the money is stolen, the sucker complains it was all a con. No sh!t Sherlock.

When will people begin to realize it was never supposed to work. It was a known FAIL from the first day of inception. It was promoted & passed purely as a means of stripping additional wealth from taxpayers.

Wake up folks. If you're viewing these events purely from a fundamental rationale perspective, as if it were an abstract engineering debate, you have already LOST.

It was always meant to be a re-direct play; distract the people while they set up the money vacuuming machines.

46 posted on 08/07/2010 6:00:40 AM PDT by semantic
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To: existtoexcel

Yep, the number of employed keep going down, but somehow the number unemployed never go up any more.


47 posted on 08/07/2010 6:01:59 AM PDT by 9YearLurker
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To: tobyhill

“but the recession was far worse than Romer predicted.”

Probably would have been right if they had left the economy alone.


48 posted on 08/07/2010 8:12:26 AM PDT by texmexis best (My)
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To: tobyhill
Forecast my a$$. She pulled that out of thin air cause it sounded good. Macro Econ has more witch doctors than deepest Africa ever had.
49 posted on 08/07/2010 8:15:30 AM PDT by mad_as_he$$ (Playing by the rules only works if both sides do it!)
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To: CommieCutter

You can say that again!!!!! ;-)


50 posted on 08/07/2010 8:17:42 AM PDT by mad_as_he$$ (Playing by the rules only works if both sides do it!)
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