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Home Publications Blogs Beat the Press Dana Milbank's Optimistic Forecasts

Dana Milbank's Optimistic Forecasts

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Wednesday, 21 April 2010 05:01

Washington Post columnist Dana Milbank told readers that: "by the time President Obama faces reelection in 2012, there should be, as there was in 1984 and 1996, a beautiful sunrise on the horizon: Three years of solid economic growth, unemployment down to about 7 percent."

That's really good to hear. Unfortunately, almost no economists agree with Mr. Milbank. The consensus forecast is for extremely slow growth over the next two years. The Congressional Budget Office projects that the unemployment rate will still be close to 8.0 percent -- a level higher than the peak in the prior two recessions -- by 2012.

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...
written by izzatzo, April 21, 2010 7:20
Consensus of minions of common denominators.
The mean and median and even the mode.
May a thousand flowers bloom from every procrastinator.
From gardens of innovation and even commodes.
Dana Milbank's Optimistic Forecasts
written by caseyf5, April 21, 2010 9:55
I suspect that he got it from the same sources that accurately predicted the Iraq weapons of mass destruction etc. To say that he pulled this statistic "out of his ass" would give credence to his ass/b].The federal government has not used real statistics on unemployment for decades.

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About Beat the Press

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, his latest being The End of Loser Liberalism: Making Markets Progressive. Read more about Dean.

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