Detailed text transcripts for TV channel - MSNBC - 20111228:21:03:00
That the output gap, the hole we were in was much bigger than what the actual stimulus was. say a word about that. >> much bigger. the output gap got -- there's controversy in measuring it but think of a number like 8% gdp year after year until we get back, and now it may be 6 or something like that. we did one shot, 5% of gdp spread out over some years. the biggest hunk came in 2010, and i think that was around 2.6% of gdp in that one year, much less than all the other years. do the math. >> what does it mean what the jobless rate is going to be on the eve of the election? 8.6% today. what's ...
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