July 27, 2011

CBO: Recovery stinks

From the Congressional Budget Office report "THE MACROECONOMIC AND BUDGETARY EFFECTS OF AN ILLUSTRATIVE POLICY FOR REDUCING THE FEDERAL BUDGET DEFICIT"
...the recovery from the recent recession has been anemic, and the economy remains in a severe slump. CBO and many private forecasters expect that the unemployment rate will remain high, and that output will remain well below the economy's potential, for a number of years.
Obama's "Summer of Recovery II" has been delayed indefinitely.

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