Don’t Worry, Hank’s on the Case
by matt at 7:30 am on March 21st, 2008 in Economy, Hank PaulsonJobless claims, index bode ill – AP (3/21/08):
A rise in jobless claims and a drop in a key forecasting gauge provided the latest evidence that the U.S. economy is faltering and may be slipping into recession.
[...]
In Washington, meanwhile, the Labor Department said applications for unemployment benefits totaled 378,000 last week. That was an increase of 22,000 from the previous week and the highest level in nearly two months.The four-week average for new claims rose to 365,250, which was the highest level since a rash of claims caused by the 2005 Gulf Coast hurricanes.
Ken Goldstein, labor economist at the Conference Board, said in a statement accompanying the leading indicators report that economic signals “are flashing yellow.”
Never fear, the wise and credible Treasury Secretary Henrty Paulson is on the case:
Paulson said the planned economic stimulus program could add 500,000 to 600,000 jobs to the economy later this year.
Does it matter that Paulson has been wrong about absolutely everything he’s said in public since landing at Treasury?
sarabeth wrote:
Ah, the multifarious charms of the word “could”.
The planned economic stimulus program could add 500,000 to 600,000 jobs to the economy later this year. Or it could shed hundreds of thousands of jobs.
Hank could be remebered as the best Treasury Secretary ever. Or the worst.
He could be awarded the Nobel prize for economics, for Feats of Brazenry in Economic Truthtelling. Or not.
Matt could come to love (nullus) and admire Hank in time.
Posted 22 Mar 2008 at 4:27 am ¶