I had forgotten that the administration predicted things would be really bad for a really long time, though at the time I assumed they were setting a low bar so that they could claim victory if they managed to leap over it.
Chuck Toddler twitters:
Obama admin lays down unemployment rate markers: by end '10, will be below 10%, by end of '11, below 9% and by end of '12, just below 8%
If that's what they believe, Jeebus. When they passed the stimulus a year ago they projected that without the stimulus unemployment would drop below 6% by the end of 2012.
This is bad.