Paulson Claims Unemployment Could Have Hit 25%

Worth Clicking: Blasts from the past wound Romney

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January 29, 2010

Paulson Claims Unemployment Could Have Hit 25%

"If the federal government had not bailed out Wall Street banks, unemployment could have skyrocketed to 25 percent," former Treasury Secretary Henry Paulson said in an interview with CBS News.

Said Paulson: "I believe that if the system collapsed, we easily could've seen unemployment of 25 percent. I think we came very, very close."

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Taegan D. Goddard is the founder of Political Wire, one of the earliest and most influential political web sites.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country, including the Washington Post, USA Today, Boston Globe, San Francisco Chronicle, Chicago Tribune, Philadelphia Inquirer and Christian Science Monitor.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

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January 29, 2010