Barack Obama continues to set records, but not the ones he intended to when he wafted into the White House on the wispy aura of hopenchange. “Bernanke: Fed Predicts Post-WWII Record 73 Months of 7%+ Unemployment,” CNS News reports:
Federal Reserve Chairman Ben Bernanke told the House Financial Services Committee on Wednesday that the Federal Open Market Committee (FOMC) is predicting that the national unemployment rate will remain at 7 percent or higher through 2014, which would extend to 73 the number of consecutive months in which the unemployment rate has remained above 7 percent—a post-World War II record.
And not at all “unexpectedly.” Speaking of which, say, what caused that pre-World War II record?
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