A few weeks ago, the prediction for an upturn was set for mid 09, or end of second / beginning of 3rd quarter. Now they're moving it out.
President Obama’s chief economics forecaster said on Sunday that the country was not likely to see positive employment growth until 2010, even if the economy began to grow later this year.
Speaking on C-SPAN, Christina Romer, chairwoman of the White House Council of Economic Advisers, said that she expected the G.D.P. to begin growing in the fourth quarter of this year. Ben S. Bernanke, the Federal Reserve chairman, made a similar prediction last week.
Obama succeeds daily in doing the impossible.
He makes Jimmy Carter look good.