"The U.S. is pretty darn f**ked."
~ Christina Romer, former chair of Obama's Council of Economic Advisers
When speaking about Standard and Poor's that downgraded the United States' top-level credit rating for the first time in history. No one Party is to blame but we all will suffer because of this for the government's failure to deal with our debt.
Reactions to Credit Rating downgrade
This is the same woman who was the head of Obama's Economic Council and said that the US unemployment would not exceed 8% if we gave the Obama Administration the stimulus package. We all know how well that worked out.
ReplyDeleteQuestion: Has everything the Obama Administration said a lie? From an objective prospective, I believe so.
The administration famously released a chart during the fight over its signature $787 billion American Recovery and Reinvestment Act (ARRA) showing that, if that package were enacted, unemployment would not exceed 8 percent. The projection, authored by Council of Economic Advisers (CEA) Chairwoman Christina Romer, argued that without the stimulus, unemployment would reach a high of 9 percent in the third quarter of 2010.
The current unemployment rate, according to the Bureau of Labor Statistics, stands at 9.6 percent.