Summers Relying On Google Searches To Gauge Recession
Mr. Speaker, when this administration took over on January 20, the unemployment was at about 7.2 percent, and they made a promise that this new stimulus of $787 billion would create or would save 600,000 jobs. Since that point, we've lost…
Mr. Speaker, when this administration took over on January 20, the unemployment was at about 7.2 percent, and they made a promise that this new stimulus of $787 billion would create or would save 600,000 jobs. Since that point, we've lost 2 million jobs. Where are the jobs?
The President's top economic adviser pictured here, Mr. Larry Summers, has made us all feel better in this country by telling us:
Of all the statistics pouring into the White House every day, top economic adviser Larry Summers highlighted one Friday to make his case that the economic free-fall has ended. The number of people searching for the term ``economic depression'' on Google is down to normal levels, Summers said. Searches for the term were up fourfold when the recession deepened in the earlier part of the year, and the recent shift goes to show consumer confidence is higher, Summers told Peterson Institute for International Economics.
Mr. Speaker, where are the jobs? I'm telling you that somebody in this administration is asleep at the wheel.