Author Topic: OT: President downplays job loss  (Read 1515 times)

Offline spursfan101

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OT: President downplays job loss
« on: February 18, 2004, 03:55:24 PM »
WASHINGTON (AP) -- The White House backed away Wednesday from its own prediction that the economy will add 2.6 million new jobs before the end of this year, saying the forecast was the work of number-crunchers and that President Bush was not a statistician.

White House press secretary Scott McClellan, asked repeatedly about the forecast, declined to embrace the prediction which was contained in the annual economic report of the White House Council of Economic Advisers.

Unemployment and the slow pace of job creation are political liabilities for Bush as he heads into a battle for re-election. Despite strong economic growth, the nation has lost about 2.2 million jobs since he became president.

The jobs forecast was the second economic flap in recent days for the White House. Last week, Bush was forced to distance himself from White House economist N. Gregory Mankiw's assertion that the loss of U.S. jobs overseas has long-term benefits for the U.S. economy.  :unsure:

 
Paul