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

Thursday, 01 Sep 2011 09:14 PM

By David A. Patten

  Comment  |
   Contact  |
  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.

  Comment  |
   Contact  |
  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.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Joe Scarborough: Cowering to Hackers 'Can't Be Our New Reality'

Friday, 19 Dec 2014 09:18 AM

The United States shouldn't "cower" and give into hackers threatening to attack theaters if they aired a movie that poke . . .

Review: 'Insular' Secret Service Needs Outsider as Leader

Friday, 19 Dec 2014 09:08 AM

The Secret Service is an insular agency that needs a new director hired from the outside, according to former governme . . .

Report: Hackers Stole Passwords to Access Sony's System

Thursday, 18 Dec 2014 19:41 PM

Sony's computer system was hacked by individuals who stole the computer passwords of a system administrator , giving the . . .

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