US economy forecast to grow by 1.5 percent in 2014

[DonViejo]

Source: ASSOCIATED PRESS

WASHINGTON (AP) — The Congressional Budget Office says the U.S. economy will grow by just 1.5 percent this year — hurt by a poor first-quarter performance.

This new assessment is considerably more pessimistic than the Obama administration’s. Last month, the administration predicted that the economy would grow 2.6 percent this year.

The CBO says the economy should grow by 3.4 percent over 2015 and 2016, and predicts that the unemployment rate will remain below 6 percent into the future.

The economy unexpectedly contracted over the first quarter of the year, in part because of an unusually harsh winter. The CBO also projects that the government will run a deficit of $506 billion for the budget year ending Sept. 30.

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Read more: http://www.salon.com/2014/08/27/us_economy_forecast_to_grow_by_1_5_percent_in_2014/

[Peacetrain]

1. You know ..

It like that old saying..the Lord giveth, and the Lord taketh away.. Every day.. its up, its down.. its controlled by forces beyond my ken, that is for sure..

[jtuck004]

3. "its controlled by forces beyond my ken, that is for sure.. " < Or, they have taught us that it is.

Maybe it's up to us to burn those books and shut down the plantation - too many would rather we shut up and go back to the fields.

[Psephos]

6. +1 n/t

[yallerdawg]

2. But the stock market...

the elite's Big Casino, is up 200% from its Great Recession low.

"Trickle down" from the "job creators" doesn't seem to be working.

Of course, the Republican machine will roll on, where truth and facts don't seem to matter.

[jtuck004]

4. lol. They just reviesed China downward. To 7. Gonna kick American ass all the way to the Walmart

parking lot, while everyone here watches cable tv and elects people they can make excuses for.

Well deserved, because it is only this way when we want it to be.

[cstanleytech]

5. The economy will continue to stagnant imo until the corporations are forced

to pay people a wage that allows them to live above the poverty level.

[geretogo]

7. This is very good news to the Rethuglicons . The worse the economy the better their chances

of stealing the presidency and the Senate . This is how traitors and totalitarians get power .