Even Barney Frank has enough horse sense to know that one needs to be careful about predicting the future.




The HILL article

Frank: Obama admin 'dumb' to predict no higher than 8% unemployment

It was "dumb" for President Obama and his aides to promise that unemployment would not surpass 8 percent if the stimulus act passed, a top House Democrat said Tuesday.

Rep. Barney Frank (D-Mass.), the chairman of the House Financial Services Committee, called into question the wisdom of projections issued by the Obama administration during the congressional fight over the stimulus bill that argued it would prevent higher levels of joblessness.

"President Obama, whom I greatly admire ... when the economic recovery bill — we're supposed to call it the 'recovery bill,' not the 'stimulus' bill; that's what the focus groups tell us — he predicted or his aides predicted at the time that if it passed, unemployment would get under 8 percent," Frank said Tuesday evening during an appearance on the Fox Business Network. "That was a dumb thing to do.".....

The reality is that this administration made a lot of promises... then did the opposite after being elected according to the promises made.

By, by.

Barney knows.

xtnyoda, shalomed