President Barack Obama's new budget depicts a still-fragile economy continuing its slow but steady recovery from the deep 2007-2009 recession. The White House forecast does not foresee U.S. unemployment falling to pre-recessionary levels below 6 percent until after Obama leaves office.

The White House (Uyen Le, Getty Images)

The forecast sees the jobless rate, now 7.7 percent, stabilizing at 5.4 percent by 2018.

One bright spot in the projections: tame levels of inflation at just over 2 percent for all of the next decade.

The White House's economic assumptions and forecasts -- contained in the president's budget blueprint for the fiscal year that begins next Oct. 1 -- are slightly more optimistic in some areas such as short-term economic growth. Otherwise, they generally are in line with recent Congressional Budget Office and private-sector Blue Chip projections.

 

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