I just talked to Bill Beach at Heritage's Center for Data Analysis, who tells me that the team re-ran part of its model for the Path to Prosperity. The unemployment projections, which predicted sub-7 percent unemployment in 2012 and sub-3 percent unemployment in 2020, were too low.
"We adjusted the full employment unemployment variable," said Beach. "Nothing else changes as a result of that, but the employment number changes."
The new numbers -- 7.89 percent unemployment in 2012, and 4.27 percent unemployment in 2020.
TODAY IN SLATE
The Ebola Story
How our minds build narratives out of disaster.
The Budget Disaster That Completely Sabotaged the WHO’s Response to Ebola
PowerPoint Is the Worst, and Now It’s the Latest Way to Hack Into Your Computer
The Shooting Tragedies That Forged Canada’s Gun Politics
A Highly Unscientific Ranking of Crazy-Old German Beers
Welcome to 13th Grade!
Some high schools are offering a fifth year. That’s a great idea.
The Actual World
“Mount Thoreau” and the naming of things in the wilderness.