Council of Economic Advisors Flunks the No Economist Left Behind Test

[REACTIVATED IN CT]

2 pages. Excerpt: "Last week the President's Council of Economic Advisors (CEA) issued a memo that responded to the concern that the Social Security Administration's (SSA) projections for stock returns are inconsistent with its projections for economic and profit growth (2-4-05). The basic problem is that the projections assume that stock returns will be roughly the same in the future as they were in the past, 6.5 percent annually, even though real profit growth is projected to be only ...." (Center for Economic and Policy Research)

http://www.cepr.net/publications/cea_response_2005_02_10.pdf