White House: Unemployment Will Still Be 9% on Election Day

Thursday, 01 Sep 2011 09:14 PM

By David A. Patten

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
The Obama White House is now predicting the unemployment rate still will be over 9 percent when voters go to the polls to cast their ballots in the November 2012 election.

That bracing news was contained in the administration’s revised, downgraded forecast for economic performance in the months ahead. It follows a similar downgraded projection by the Congressional Budget Office, which stated unemployment would remain at or above 8.5 percent through the end of 2012.

The administration blamed the downgrade on significant economic “turbulence” in recent months. Its economists say they now expect the economy to grow by about 1.7 percent in 2011, rather than the 2.7 percent previously predicted.

White House officials tried to spin the report as further evidence of the need to jump-start economic growth. The president is scheduled to give an address to a joint session of Congress next Thursday that is expected to focus on job creation.

Recent polls show voters’ faith in the president’s ability to effectively manage the economy has been seriously diminished. A Gallup poll in mid-August, for example, showed only 27 percent of voters approve of the president’s economic stewardship.

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Suspect in Killing of Deputies Was Twice Deported

Saturday, 25 Oct 2014 23:04 PM

Federal authorities say a man suspected of killing two deputies during a shooting rampage in Northern California was dep . . .

IRS Seizes Money From Those Accused of No Crime

Saturday, 25 Oct 2014 22:34 PM

The Internal Revenue Service has been seizing money from the bank accounts of individuals and businesses with no proof,  . . .

US Struggles to Turn the Tide Against ISIS

Saturday, 25 Oct 2014 21:50 PM

After more than two months of air strikes, a U.S.-led coalition has prevented the fall of a northern Syrian town to Isla . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved