A Million Economists Agree, We Bet

By December 21, 2008Economy, Media Relations

Back when we wrote Sunday newspaper thumbsuckers, we’d always shoot for at least two sources and one or two active verbs, just to make the story seem fresh, interesting and worth reading. Of course, back then Lee Enterprises was above $30 a share …it’s 30 cents now.

Anyway, those standards apparently don’t apply to page one Washington Post stories, including “Obama Expands Stimulus Goals — As Economic Outlook Grows More Dire, Early Target for Job Growth Is Bolstered.”

President-elect Barack Obama has expanded his goals for a massive federal stimulus package to keep pace with the increasingly grim economic outlook, aiming to create or preserve at least 3 million jobs over the next two years.

The more aggressive target, up from 2.5 million jobs set a month ago, comes after a four-hour meeting last week in which Obama’s top economic advisers told him the economy is now expected to lose as many as 3.5 million jobs over the next year. Obama was told that could drive unemployment, currently at 6.7 percent, above 9 percent, a figure not seen since the recession of the early 1980s.

With liberal and conservative economists calling on the government to spend $800 billion to $1.3 trillion to stanch the bleeding, the greater danger to the nation, Obama was told, lies in doing too little rather than too much.

Obama advisors, but who? We never find out. And that last line, “With liberal and conservative economists….”

Huh. We’ve missed all the conservative economists calling for a $1.3 trillion stimulus plan. Can’t think of one. Maybe, but you wouldn’t know it from the Post’s article.

In fact, there’s just a single named source in the entire story, just one! Larry Summers.

Perhaps he contains multitudes.

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