Word: bernstein
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Dates: during 2000-2009
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Producer Nan L. Bernstein said that the “FNL” shoot was the last of a series of scenes that took place in a number of colleges in the Boston area, including Boston University, Boston College and Tufts University. Actresses Connie Britton and Aimee Teegarden were present at the set, according to Bernstein...
...market was going to be thrown for a loss no matter what. The issue is whether the number of job losses is greater or lesser than it would have been in the absence of the stimulus. "You can't answer these questions without a compared-to-what," says Jared Bernstein, economic adviser to Vice President Joe Biden, who is overseeing the stimulus. "We can have good arguments about the baseline, but a critique that doesn't evoke the baseline is useless." (See the top 10 Joe Biden gaffes...
...that standard, we're doing O.K. But Bernstein and Christina Romer, the chairwoman of the President's Council of Economic Advisers, made the mistake of providing a more optimistic baseline last January - a forecast in which unemployment peaked at 9% without the stimulus bill and stayed below 8% with it. (See who's who in Barack Obama's White House...
Unemployment has of course passed both those mileposts and is probably still rising. ("I have noticed," Bernstein says dryly.) This overshoot says more about the inadequacy of economic-forecasting models than about the efficacy of the stimulus. But the White House cites these same kinds of models in claiming that the stimulus added between 2 and 3 percentage points to economic growth in the second quarter and 3 points in the third quarter. This may be correct as far as general direction - my unscientific assessment (a.k.a. guess) is that it is - but the exact numbers are probably bunk. (Read...
...Staff writer Sanders I. Bernstein can be reached at sbernst@fas.harvard.edu...