U.S. Future Still Grim: WH Announcement Downgrades Jobs Forecast, Expect 9% Unemployment in FY '12

[marmar]

from AlterNet:



U.S. Future Still Grim: White House Announcement Downgrades Jobs Forecast, Expect 9% Unemployment in Fiscal 2012


Today, the White House's expectations for the economy began to match those of other economists and reasonable persons, as they downgraded their forecast for jobs and economic growth in 2012 from the Office of Budget Management's February estimates.

The worst news is that the unemployment rate is expected to remain at a pathetic 9.1% for fiscal 2012. The decline of unemployment is expected to be more gradual: The Obama Administration says it will not fall below 6% until 2017, instead of 2015. Economic growth for 2012 is now expected to rise by 1.7%, instead of February's estimate of 2.7%.

According to the OBM, the changes stem from economic turbulence of the past few months, including the earthquake in Japan and debt-ceiling crisis. ..............(more)

The complete piece is at: http://www.alternet.org/newsandviews/article/660072/u.s._future_still_grim%3A_white_house_announcement_downgrades_jobs_forecast%2C_expect_9_unemployment_in_fiscal_2012/

[Cali_Democrat]

1. That tends to happen

When you continue Republican economic policies.

[William769]

2. Recommended.

[theoldman]

3. And Republican military policies.

[leveymg]

4. +1000

[lib2DaBone]

5. 9% is grim.. but we all know real unemployment is at LEAST 25%...

just like the way the Federal Govt calculates inflation.. minus Food and Gas. After all, no one drives to work or eats food, right?

One lie after another.