"8% Unemployment" Romer Resigns

[OCinBuffalo]

Link

 

This lady wanted an even larger "stimulus" bill....

 

The OMB guy quit last month. Rats leaving the ship maybe?

 

But, I wonder. Perhaps the reason they wanted a bigger stimulus is they knew what they putting out was a pay-off, and they figured they had no choice about that. So, they wanted to do the union/college professor pay-off AND things that would actually stimulate the economy?

 

Who knows? I guess we will have to wait for them to write their books. Small consolation given how badly they screwed us. Still waiting for all those "shovel ready" jobs and projects to start. It's been a year and nothing.

[DC Tom]

Berkeley. Figures.

[IDBillzFan]

Seems like only yesterday that 8% unemployment was going to be the peak. Now it's what we hope to see in the next two years, if we're lucky.

 

Not to take this sideways, but since you brought up unemployment, I found today's numbers particularly interesting. Not because we lost more jobs, and not because this was supposed to be the "Summer of Recovery" and not because no matter how they try to spin it, most people aren't stupid.

 

No...the single most interesting thing I found (and I may be alone in this) is how they revised JUNE's number from a net gain of 83,000 jobs down to a net gain of 31,000. How do you possibly screw up a number that bad?

 

So for those who have closely followed this stuff longer than I have (the past couple of years), is this something that is done all the time by whomever is in office? Because every time I turn around, this administration is revising numbers; unemployment numbers, hiring numbers, quarterly GDP numbers. And they're always later revised way downward. Is this standard practice for perception or is this current administration really this incompetent?

[GG]

So for those who have closely followed this stuff longer than I have (the past couple of years), is this something that is done all the time by whomever is in office? Because every time I turn around, this administration is revising numbers; unemployment numbers, hiring numbers, quarterly GDP numbers. And they're always later revised way downward. Is this standard practice for perception or is this current administration really this incompetent?

 

This is standard practice. Numbers always change after a more thorough scrub a month or two after they're initially released.

[TheMadCap]

Seems like only yesterday that 8% unemployment was going to be the peak. Now it's what we hope to see in the next two years, if we're lucky.

 

Not to take this sideways, but since you brought up unemployment, I found today's numbers particularly interesting. Not because we lost more jobs, and not because this was supposed to be the "Summer of Recovery" and not because no matter how they try to spin it, most people aren't stupid.

 

No...the single most interesting thing I found (and I may be alone in this) is how they revised JUNE's number from a net gain of 83,000 jobs down to a net gain of 31,000. How do you possibly screw up a number that bad?

 

So for those who have closely followed this stuff longer than I have (the past couple of years), is this something that is done all the time by whomever is in office? Because every time I turn around, this administration is revising numbers; unemployment numbers, hiring numbers, quarterly GDP numbers. And they're always later revised way downward. Is this standard practice for perception or is this current administration really this incompetent?

 

Totally unrelated, but I can't stop picturing the President with his hands clenched, shouting up at the sky, ala George Costanza, "this was supposed to be the Summer or Recovery"!!!!!!

[PearlHowardman]

Totally unrelated, but I can't stop picturing the President with his hands clenched, shouting up at the sky, ala George Costanza, "this was supposed to be the Summer or Recovery"!!!!!!

 

Actually, I think Obama is so freakin' clueless he has no idea what's going on. His wife & daughter are vacationing in Spain. The Obama family has another 10 day Martha's Vineyard vacation scheduled at the end of the month. Just after a three day vacation on the Gulf of Mexico.

[Nanker]

Actually, I think Obama is so freakin' clueless he has no idea what's going on. His wife & daughter are vacationing in Spain. The Obama family has another 10 day Martha's Vineyard vacation scheduled at the end of the month. Just after a three day vacation on the Gulf of Mexico.

BO's advisors are deeply grounded in theoretical illusions and constructs of academic fantasy.

They are legends in their own minds - and President BO's.

 

Not one of them comes from industry. Not one of them has run a large corporation.

Not one of them has ever held a job that produced anything except a report, a study or a legal brief.

Most of them have an anti-capitalistic bent. Most believe the concept that a humble "worker" is a member of an entitled class and as such we owe them [fill in the litany of socialistic benefits here].

Not one of them has ever run a company that created jobs.

No surprise here that unemployment remains high and that there's no end in sight.

This gang of fools does not have a clue. None whatsoever.

[keepthefaith]

BO's advisors are deeply grounded in theoretical illusions and constructs of academic fantasy.

They are legends in their own minds - and President BO's.

 

Not one of them comes from industry. Not one of them has run a large corporation.

Not one of them has ever held a job that produced anything except a report, a study or a legal brief.

Most of them have an anti-capitalistic bent. Most believe the concept that a humble "worker" is a member of an entitled class and as such we owe them [fill in the litany of socialistic benefits here].

Not one of them has ever run a company that created jobs.

No surprise here that unemployment remains high and that there's no end in sight.

This gang of fools does not have a clue. None whatsoever.

 

Completely agree and I'll add that they are a very stubborn bunch. Even in the face of the numbers, (defecits unemployment, lack of benefit from stimulus program, real cost of health care bill, illegal immigrant burdens), they refuse to adjust. They are trapped by their ideology and deeply commited to partisanship over results.

[Alaska Darin]

Completely agree and I'll add that they are a very stubborn bunch. Even in the face of the numbers, (defecits unemployment, lack of benefit from stimulus program, real cost of health care bill, illegal immigrant burdens), they refuse to adjust. They are trapped by their ideology and deeply commited to partisanship over results.

So they're just like the Republicans: Deficits, hemorrhaging jobs, lack of benefit from spending programs, lack of real cost of Wars, no plan for addressing any actual problem, illegal immigration burdens.

 

Go partisans!

[keepthefaith]

So they're just like the Republicans: Deficits, hemorrhaging jobs, lack of benefit from spending programs, lack of real cost of Wars, no plan for addressing any actual problem, illegal immigration burdens.

 

Go partisans!

 

When you campaign on changing the way Washington works and you then govern in the worst possible way in which Washington works, then you deserve to be criticized.

 

The big issues that we face as a nation are glaringly obvious when you look at the numbers. The stakes are higher now than I can remember in my lifetime. Somehow we have to find and elect people that will start managing by the numbers. Pipe dream, maybe.

 

Clearly, however, the solutions to the noble causes that Obama and this Congress have addressed are not the solutions that will generate positive results.

[Alaska Darin]

When you campaign on changing the way Washington works and you then govern in the worst possible way in which Washington works, then you deserve to be criticized.

Who's disputing this?

The big issues that we face as a nation are glaringly obvious when you look at the numbers.

It's been obvious for pretty much my entire life. That hasn't stopped 80% of voters from voting the same way every single election.

The stakes are higher now than I can remember in my lifetime. Somehow we have to find and elect people that will start managing by the numbers. Pipe dream, maybe.

Probably.

Clearly, however, the solutions to the noble causes that Obama and this Congress have addressed are not the solutions that will generate positive results.

No doubt.

[Rob's House]

So they're just like the Republicans: Deficits, hemorrhaging jobs, lack of benefit from spending programs, lack of real cost of Wars, no plan for addressing any actual problem, illegal immigration burdens.

 

Go partisans!

 

It's an interesting point because if you look at what the Republicans did with power and what is being done now, the only logical conclusion one can draw is that the current crowd agreed with just about everthing the Republicans were doing, they just didn't think they were doing enough of it.

 

Either that or they were just blowing smoke and are of the opinion that they had their turn to spend a ton of money they didn't have and now it's our turn and we're not going to let an economic downturn deprive us of our spending spree.

 

 

Ultimately the biggest problem with the partisan aspect of political religiosity is people become too concerned with who did what and less concerned with what was actually done, which is problematic if you want to take the scientific approach to issues.

[keepthefaith]

It's an interesting point because if you look at what the Republicans did with power and what is being done now, the only logical conclusion one can draw is that the current crowd agreed with just about everthing the Republicans were doing, they just didn't think they were doing enough of it.

 

Either that or they were just blowing smoke and are of the opinion that they had their turn to spend a ton of money they didn't have and now it's our turn and we're not going to let an economic downturn deprive us of our spending spree.

 

 

Ultimately the biggest problem with the partisan aspect of political religiosity is people become too concerned with who did what and less concerned with what was actually done, which is problematic if you want to take the scientific approach to issues.

 

Both parties when they have been in positions of control have usually !@#$ed up royally only to hand control to the other party so that they can do the same. Wash, rinse, repeat.

[Gary M]

Wash, rinse, repeat.

 

But when the skids marks get too dark it is time to replace the boxers.

 

 

I think it is darn close to that time.

 

 

 

It's been obvious for pretty much my entire life. That hasn't stopped 80% of voters from voting the same way every single election.

 

I pray that the tide is turning on this.

[3rdnlng]

But when the skids marks get too dark it is time to replace the boxers.

 

 

I think it is barn close to that time.

 

 

 

It's been obvious for pretty much my entire life. That hasn't stopped 80% of voters from voting the same way every single election.

 

I pray that the tide is turning on this.

 

 

The old Reagan Democrats have to come to their senses again.

[erynthered]

Seems like only yesterday that 8% unemployment was going to be the peak. Now it's what we hope to see in the next two years, if we're lucky.

 

Not to take this sideways, but since you brought up unemployment, I found today's numbers particularly interesting. Not because we lost more jobs, and not because this was supposed to be the "Summer of Recovery" and not because no matter how they try to spin it, most people aren't stupid.

 

No...the single most interesting thing I found (and I may be alone in this) is how they revised JUNE's number from a net gain of 83,000 jobs down to a net gain of 31,000. How do you possibly screw up a number that bad?

 

So for those who have closely followed this stuff longer than I have (the past couple of years), is this something that is done all the time by whomever is in office? Because every time I turn around, this administration is revising numbers; unemployment numbers, hiring numbers, quarterly GDP numbers. And they're always later revised way downward. Is this standard practice for perception or is this current administration really this incompetent?

 

 

What do you mean "Obamanomics has failed miserably..."? Obama, Biden, Pelosi, Reid, Geitner, Axelrod, Gibbs, Marx and Satan have told us this is the "Summer of Recovery" and stimulus has worked better than expected. Are we to believe that they are simply lying to us? To quote Monica Lewinsky, "I find this hard to swallow"!

[3rdnlng]

What do you mean "Obamanomics has failed miserably..."? Obama, Biden, Pelosi, Reid, Geitner, Axelrod, Gibbs, Marx and Satan have told us this is the "Summer of Recovery" and stimulus has worked better than expected. Are we to believe that they are simply lying to us? To quote Monica Lewinsky, "I find this hard to swallow"!

 

Obamanomics has not failed. On the contrary, it has succeeded superbly and done exactly what it was intended to do.

[Gary M]

Obamanomics has not failed. On the contrary, it has succeeded superbly and done exactly what it was intended to do.

 

Unfortuntely you are correct.

[Gary M]

To quote Monica Lewinsky, "I find this hard to swallow"!

 

Who's desk is she under these days?

[3rdnlng]

Unfortuntely you are correct.

 

Unfortunately is right. We need to stop this train wreck of an administration/congress in its tracks before things become impossible to repair.