|
Summers: Obama to keep jobless rate below 10 percent
Larry Summers, the incoming director of the National Economic Council, predicted Sunday that President-elect Obama would keep the unemployment rate below 10 percent."I think while we're going to see substantial job losses, frankly what's important about the president's program here is that it is going to contain what would otherwise be just a vicious cycle," Summers said on CBS's "Face the Nation". "People spend less, therefore, others earn less, therefore, they spend less." Posted by: Fred 2009-01-19 |
| http://www.rantburg.com/poparticle.php?ID=260235 |