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:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Rep. Ed Royce: Obama Had Chance to Drone ISIS in Iraq

Wednesday, 23 Jul 2014 23:20 PM

The Obama administration had a chance to hit the ISIS terrorist group in Iraq with drone strikes before they gained a st . . .

Defense Expert: Ukraine Can Win If US Provides Equipment It Wants

Wednesday, 23 Jul 2014 22:11 PM

The Russian-backed rebels in Ukraine could be defeated in as little as three weeks if the United States would supply the . . .

Jane Fonda: I'll Be Mad If Rupert Murdoch Acquires Time Warner

Wednesday, 23 Jul 2014 22:01 PM

Jane Fonda says she'll be "so angry" at federal regulators if they approve an acquisition of Time Warner by Rupert Murdo . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

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