>why would Bush predict 2 million new jobs? don't make promises you
>can't keep unless they're scheduled to appear after the election.
>not exactly a sign of shrewd politics or am i missing something?
The 2 million projection was in line with historical averages, so they were probably hoping for a return to normalcy. But their economic staff isn't of a very high quality, so there was no one sensible around to urge caution (and naysayers aren't welcome anyway). Bush believes he's on a divinely appointed mission, so I guess he'd hoped that God would prompt firms to start hiring.
On closer examination, the internals of the jobs report were as weak as the headline. Had the labor force dropouts stayed in the labor force and been counted as unemployed, the jobless rate would have risen to 5.8% instead of staying unchanged at 5.6%. The labor force participation rate is back at 1991 levels. Real wage growth is 0. Aggregate hours worked throughout the economy are back at 1997 levels.
Doug