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Robert Reich posts

Social Security will run out of money... in the year 2525

Posted Jun 10th 2009 7:00PM by Joseph Lazzaro (RSS feed)
Filed under: Forecasts, Politics

Sometimes the most basic of problems -- ones where the solution is fairly simple -- linger for decades in Washington, primarily for protection of status quo reasons.

A good example is Social Security -- the huge, bedrock entitlement program, often portrayed as facing a dire circumstance, when, in fact, as former U.S. Labor Department Secretary and current Berkeley Professor Robert Reich pointed out, the solution is fairly basic.

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White House expects no job growth until 2010

Posted May 11th 2009 11:00AM by Mark Fightmaster (RSS feed)
Filed under: Economic Data

While many people were enjoying time with their families on Mother's Day, the White House released a bit of news that may fly under the radar of some. According to The New York Times, President Obama's chief economics forecaster Christina Romer, chairwoman of the White House Council of Economic Advisers, announced that she expects unemployment to continue rising, even after the economy turns.

Romer stated that the GDP has to grow at a rate of about 2.5% before unemployment will start to wane. That said, Romer believes that it is "unfortunately pretty realistic" that unemployment may reach 9.5%. This revelation follows last Friday's data showing that unemployment was 8.9% in April -- the highest level in 25 years.

Continue reading White House expects no job growth until 2010