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December 09, 2005

John Snow Has Not Good News, But an Expectation That He Will Have Good News--Soon

Daniel Gross watches Treasury Secretary John Snow say that--up until some moment that is not yet here but is coming soon--the economy has not been generating good news about real wages:

Daniel Gross: SNOW FALLING ON CEDARS: Yesterday, John Snow said U.S. workers could expect pay increases in 2006.

WASHINGTON (Reuters) - Treasury Secretary John Snow said on Monday that a steadily expanding U.S. economy has reached a point where it should start generating good news about incomes and jobs. "We're about at a tipping-point here where we're going to see much improvement in wage rates and compensation," Snow said during an interview on CNBC television....

Notice the double conditional -- "about at a tipping point."

Posted by DeLong at December 9, 2005 10:39 AM