The Corner

This Stat, More Than Anything Else, Foretells a One-Term Presidency

Ben Bernanke before the Senate Budget Committee Friday:

“The projection submitted by the Federal Open Market Committee, or FOMC, showed that notwithstanding forecasts of increased growth in 2011 and 2012, most participants expected the unemployment rate to be close to 8 percent two years from now. At this rate of improvement, it could take four to five more years for the job market to normalize fully.”


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