Contact Us
Make My Homepage

White House Projects Slow Economic Gains Ahead

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
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.

 

(Copyright 2013 by The Associated Press. All Rights Reserved.)

Best of the Web


Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://nj1015.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!