Letters to the Editor



A former colleague of mine, Cornie Strawser, got a letter to the editor published in today's Washington Post.

Thanks for John Berry's July 11 Business story, "Number Crunchers vs. Recession," which pointed out that the Business Cycle Dating Committee of the National Bureau of Economic Research (NBER) has added a new indicator -- monthly real gross domestic product -- and assigned greater weight to GDP estimates in determining when the end of the recession may be reached.

When I looked up the latest NBER analysis and compared it with the one issued two months earlier, I found that the committee had downgraded its emphasis on employment statistics even more than Mr. Berry's story indicated.

In April the committee wrote: "Economy-wide employment and real personal income are the most important monthly indicators . . . employment is probably the single most reliable indicator."

But in July the statement ranked employment behind income. The committee's membership is the same as it was in April, so it appears that it has experienced a remarkable paradigm shift in its analytical processes.

Perhaps these seven economists have convinced themselves that a jobless recovery can be called a recovery, but I doubt that they will be able to convince America's workers and job-seekers.

CORNELIA STRAWSER
Washington

Not to let Dr. Strawser take all of the limelight, my father also got a letter published in the Chattanooga Times-Free Press, about an editorial excoriating a governor for raising taxes. Funny how they forgot to mention his party affiliation.

What a novel idea for a Governor to sue a state legislature to raise taxes. This happened in Navada and the courts ruled in favor of Gov. Kenny Guinn. This was a request to overrule a mandated 2/3's majority required to raise taxes. Now a simple majority will be all that is needed.

What is more remarkable is Guinn is a Republican. This fact was left out of the Free Press editorial of July 15th. I bet if Guinn had been a Democrat it would have been noted it capital letters. Must have been an oversight.

The Chattanooga Times-Free Press is a very conservative paper, with two editorial pages, the result of the merger of the Chattanooga News Free Press and the Chattanooga Times. One very conservative, one moderate. The News Free Press was the conservative paper. What a concept, truth in advertising!

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