UnNews:US economic council's new report called "a page-turner"

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US economic council's new report called "a page-turner"

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11 February 2010

Romer report

Council Chairwoman Christina Romer displays the economic report, sure to be a New York Times best-seller.

WASHINGTON, D.C. -- The White House Council of Economic Advisers released a 300-page review of President Obama's economic initiatives, which Chairwoman Christina Romer called "a page-turner."

The annual report is delivered to Congress, whose members love 300-page documents that put partisan spin on past policy moves. Said Majority Leader Harry Reid (D-Nevada), "I'm going to keep my copy in the master bathroom, to read during those quiet, pensive moments." Reid referred to the embattled 2400-page health-care reform bill as "a breezy read. I couldn't put it down."

The report examines the economic crisis and the moves to shore up markets, including paying people to buy things they would have bought anyway, inducing them to do so earlier or later to qualify for a program, and getting them to go out on a limb only to find that the government web site didn't work.

Romer said she expects 95,000 new jobs a month in 2010, and GDP to grow by 2.5%. Last year, she said unemployment might hit 8% if the President's stimulus package weren't passed. It was, and unemployment shot up to 10%. "It's a shame Romer's engaging writing has never made the New York Times best-seller lists," Reid added, although he admitted he had not checked under Fiction.

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