Wednesday, August 24, 2011

CBO Forcasts Sharply Lower Growth

As well as trillions in deficits for a decade...

CBO also has substantially weakened its outlook for the economy compared to its January report. It now expects 2.3 percent growth in 2011 and 2.7 percent growth in 2012, compared to a January forecast of 3.1 percent growth for the year.
CBO forecasts 8.5 percent unemployment at the end of 2012, when President Obama faces reelection.
A change is needed fast, 2012 will not come soon enough.

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