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