Unemployment rate to be kept down under Obama, Summers predicts

01/19/2009 | Hill, The

On the CBS program "Face the Nation," Lawrence Summers, President Barack Obama's top economic adviser, said Obama will likely keep the unemployment rate below 10%. "Some of the adjustments can take place almost immediately as people see more income in their paychecks, as state and local governments will get support. ... And there are a ton of shovel-ready projects ... that are being canceled right now that aren't going to have to be canceled when this program passes."

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Hill, The

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