Sunday, December 13, 2009

Obama’s Economic Advisers Contradict Themselves on Whether the Recession Is Over

Two of President Barack Obama’s top economic advisers went on the Sunday TV news shows and contradicted themselves on whether the recession has run its course.

Lawrence Summers, director of the National Economic Council, said that the country is now past the economic crisis.

"Today, everybody agrees that the recession is over, and the question is what the pace of the expansion is going to be," Summers said while appearing on ABC's "This Week."

Christina Romer, chairwoman of the White House Council of Economic Advisers, told David Gregory on NBC’s “Meet the Press” that of course the recession was not over.
"For the people on Main Street and throughout this country, they are still suffering, the unemployment rate is still 10 percent."

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