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January 3, 2011
Paul Krugman: Deep Hole Economics
By Sheila Samples
Forecasters have been marking up their predictions; growth as high as 4 percent this year now looks possible. Hooray! But then again, not so much. Jobs, not G.D.P. numbers, are what matter to American families. And when you start from an unemployment rate of almost 10 percent, the arithmetic of job creation -- the amount of growth you need to get back to a tolerable jobs picture -- is daunting.
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Forecasters have been marking up their predictions; growth as high as 4 percent this year now looks possible. Hooray! But then again, not so much. Jobs, not G.D.P. numbers, are what matter to American families. And when you start from an unemployment rate of almost 10 percent, the arithmetic of job creation -- the amount of growth you need to get back to a tolerable jobs picture -- is daunting.Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.