Romer: Employment key to curbing deficit; refuses to speculate on jobless rate by fall
By APSunday, January 10, 2010
Romer: Employment key to curbing deficit
WASHINGTON — A top White House economic adviser says reducing the country’s 10 percent unemployment rate is essential to reining in the growing budget deficit.
Christina Romer also seems to be backing a House effort to pump an additional $75 billion in federal spending into the struggling economy. Romer says “the sense that we need to do more is overwhelming.”
She notes that more jobs were lost in December after slight gains in November. Still, she says the Obama administration sees a “continuing pattern of moderating job loss.”
Romer isn’t saying what she thinks the unemployment rate will be in the fall, when members of Congress face re-election.
Romer, who heads the president’s Council of Economic Advisers, was interviewed Sunday on CNN’s “State of the Union” and ABC’s “This Week.”
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.
WASHINGTON (AP) — A top White House economic adviser says reducing the country’s 10 percent unemployment rate is essential to reining in the growing budget deficit.
Christina Romer also seems to be backing a House effort to pump an additional $75 billion in federal spending into the struggling economy. Romer says “the sense that we need to do more is overwhelming.”
She notes that more jobs were lost in December after slight gains in November. Still, she says the Obama administration sees a “continuing pattern of moderating job loss.”
Romer isn’t saying what she thinks the unemployment rate will in the fall, when members of Congress face re-election.
Romer, who heads the president’s Council of Economic Advisers, was interviewed Sunday on CNN’s “State of the Union” and ABC’s “This Week.”
