Sep 15, 2009

Warning: high unemployment for years

Barack Obama has been trying to convince Americans that he’s beating back the recession. However, Obama’s chief economic adviser Larry Summers (pictured) is singing another tune.

The president’s chief economic adviser warned Friday that the nation’s unemployment rate could stay “unacceptably high” for years to come.

“The level of unemployment is unacceptably high,” National Economic Council Director Larry Summers said Friday. “And will, by all forecasts, remain unacceptably high for a number of years.”

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