Tags: US | Obama | Budget

Congressional Economists Predict Slow Recovery

Tuesday, 26 Jan 2010 10:37 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Congressional economists are predicting a slow rebound of the economy, with unemployment averaging 10.1 percent this year as the economy grows by just over 2 percent.

The latest estimates from the nonpartisan Congressional Budget Office see the economy growing only slightly more next year with an unemployment rate of 9.5 percent. But the CBO also projects that the economy will rebound sharply over the period from 2012-2014. That would be good news for President Barack Obama's re-election prospects.

The latest estimates see a $1.35 trillion deficit for the current budget year, dropping to $980 billion next year — but only if a host of tax cuts enacted under President George W. Bush are allowed to expire.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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

Jeb Bush Campaigns With Gov. Haley in S. Carolina

Thursday, 23 Oct 2014 18:02 PM

Gov. Nikki Haley says she would never be leading South Carolina without former Florida Gov. Jeb Bush's help.Haley appear . . .

Police: Plane, Helicopter Collide in Maryland

Thursday, 23 Oct 2014 17:14 PM

Police say an airplane and helicopter have collided in mid-air at the Frederick Municipal Airport in Maryland. Frederick . . .

Federal Judge Dismisses Tea Party Lawsuits Against IRS

Thursday, 23 Oct 2014 16:52 PM

A federal judge has dismissed on procedural grounds lawsuits filed by several tea party groups against the IRS, USA Toda . . .

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