Disastrous prediction: Very slow recovery
Obama does not have 10 years, in fact, he has one year to get unemployment down to 6%. I think he could do it if he works closely with Commerce to advance his attention to energy and reengineering the economy in transportation and housing around a new energy paradigm. The trouble is, Congress can’t act fast enough. Therefore, the best prospect is two years, though if the American public serves up another incorrigible congress, all bets are off.
“A decade of high unemployment is looming
‘New abnormal:’ Some think 10 years won’t be enough to replace losses
WASHINGTON - Call it the Terrible Teens.
The decade ahead could be a brutal one for America's unemployed — and for people with jobs hoping for pay raises.
At best, it could take until the middle of the decade for the nation to generate enough jobs to drive down the unemployment rate to a normal 5 or 6 percent and keep it there. At worst, that won't happen until much later — perhaps not until the next decade.”
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