HabitableZone

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Re: 10% unemployment to 5%
TB — (archived)

The March report is a revision to the January 2011 report. The assumptions not altered in the revision are the same as the January report.

Among these assumption is that the unemployment rate eventually drops to 5.2 percent. In short, the latest predictions already take a drop in the unemployment rate into account.

As a check from another direction, the unemployment rate actually was 5 percent or below from June of 2005 all the way through March of 2008. Revenues in 2007, in constant 2005 dollars, were $2.41 trillion, or $930 billion less than the 2011 outlay of $3.34 trillion will be. Without Bush's upper income tax cuts (generally priced by Democrats at $60 billion a year), that shortfall would drop to only $870 billion. The deficit in 2007 (same 2005 dollars) was $151 billion.

You'd almost think the spending was the problem.

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