Uh Oh

Here, David Gergen casually reports on the unspoken/unreported voices of the people in the administration about the economy.

This particular section caught my attention with the mention of possibly 750,000 layoffs per month.

Up to this point, most of the predictions have not come true because the outcomes have been worse!

The seriousness of the meltdown keeps coming through in unrelenting waves.

CNN: In the midst of celebration, darkening clouds

Unemployment continues to climb. Microsoft today announced the first broad layoffs in its history. How many more jobs will be lost in coming months is anybody’s guess. One well-informed observer told me over the weekend that the job losses of 500,000 a month over the fourth quarter – dramatic as they were — are likely to be topped in the first quarter of this year, perhaps reaching 750,000 a month.