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The Spectacle Blog
Finally, some honesty from the Obama administration about something.
The U.S. economy will continue to contract "for some time to come," says Lawrence Summers, director of the White House National Economic Council.
"I expect the economy will continue to decline," with "sharp declines in employment for quite some time this year," Summers said yesterday on "Fox News Sunday."
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More Blog Posts by Matthew Vadum
http://spectator.org/blog/2009/04/27/summers-economy-still-contract
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Bob| 4.28.09 @ 10:39AM
Vadum, you haven't been listening, have you. The Obama administration have been saying that the economy will contract probably to the end of the year since before Obama took the oath of office.
This is a quote from Obama in March:
""We'll recover from this recession, but it will take time, it will take patience and it will take an understanding that when we all work together"
Besides, if you took the time to look at the assumptions in the Obama budget, you'll see they projected a rise in unemployment until the end of this year.
You haven't been listening, Vadum...