Posted on 07/23/2010 10:30:34 PM PDT by Libloather
White House: Unemployment at 9% until 2012
By Jeanne Sahadi, senior writer
July 23, 2010: 6:27 PM ET
NEW YORK (CNNMoney.com) -- The White House said Friday it expects that unemployment will stay at or above 9% until 2012, but at the same time forecast that the economy will grow by at least 4% in 2011 and 2012.
It also revised its long-term deficit estimate under President Obama's proposed 2011 budget: The administration now believes the 10-year deficit will be $58 billion less than projected in February when the budget blueprint was first released.
Under the revised estimates, Uncle Sam will ring up $8.474 trillion in deficits between 2011 and 2020, down from the $8.532 trillion estimated in February.
In the near-term, the administration expects the 2010 deficit to come in at $1.47 trillion -- slightly lower than originally forecast and slightly above last year's deficit of $1.41 trillion. Meanwhile, the 2011 and 2012 deficits will come in somewhat higher than the White House forecast in February.
"The economy is still weaker than we'd like, and [there is] a medium-term and long-term fiscal situation that requires attention," outgoing White House Budget Director Peter Orszag said in a call with reporters.
(Excerpt) Read more at money.cnn.com ...
Pelosi Elected Speaker, First Woman to Lead House
Thursday, January 04, 2007
WASHINGTON — In an historic vote lawmakers on Thursday formally named California Rep. Nancy Pelosi as the first female speaker of the House, making her next in the presidential line of succession after the vice president.
http://www.foxnews.com/story/0,2933,241535,00.html
yes and all this is their fault ...time to start putting the blame where it belongs...
And remind everyone you talk to that unemployment is not 9%.Its over 18% with higher numbers on the way.
For some reason conservatives and Republicans have not been able to get through to People that Democrats have not been in charge merely when Obama took over, but for the two yrs before that.
All this spending, all these deficits, everything...It’s all been under a Dem Congress. Republicans have not spent one cent since Jan of 2007. The democrats have spent it all. Hopefully the GOP can get this point through.
Unemployment was at 4.5% in Jan 2007 when the Dems took over. If I was in chrage of the GOP I’d run a 60 second ad just repeating that fact. Sort of a this is your brain on drugs style.
You’d have an egg in a frying pan. This is the economy. This is the economy under the Democrats.
Translation: Com’on people.. Follow the carrot to 2012, then get suckered AGAIN into voting for Obama and follow the carrot some more.. rinse and repeat. WHAT B.S.
I am figuring about 22 %
Since 2006.
They have been in charge since 2006, at least that’s when they took both Houses of Congress. The Republicans have been clueless, gutless and spineless since 2004.
The Republicans can’t make the case that the Democrats have been saddling future generations with debt because they were doing the same thing for years before that. So, the Republicans have to attack the problem from a completely different angle than just blaming the Democrats for the massive debt.
They should take this comedy on the road. Oh, wait...
I don’t know what the unemployment rate is. I only know that I am unemployed.
You're thinking too hard. The Democrats, masters they are at propaganda, have been hitting hard that the 8 years of Bush were a disaster that killed the economy while conveniently leaving out that fact that the Republicans didn't have a voting majority in one or both houses of congress for over half of the Bush presidency.
They also mention the Clinton years as being all chocolate unicorns and buttercream frosting with huge budget surpluses and happy days.
So now, just when were the Republicans supposed to be "saddling future generations with debt" at any level close to the Democrats?
Redistributing income is good politics if the goal is to destroy exceptionalism and create a dependent class of non-taxpayers large enough and stupid enough to re-elect socialists. But it’s never good economics.
The White House has a poor record of saying anything close to the truth.
This article is journolisting.
So when unemployment goes to 7% they can claim it’s ‘lower than forecast’.
Forget the numbers. Nothing will improve until the cannibal leaves or is removed from office.
GOP
95-06 Avg unemployment 4.7%
95-06 Jobs created +27 million
Dems
07-10 Avg unemployment 8.2%
07-10 Jobs created -8 million (lost)
What happened to the prophesied 8% if Stimulus is passed? Oh wait, my bad, I know: It was a LIE. Go figure. =.=
Yup
The list, ping
The reason these predictions are so scary is because of the results of their last predictions.
Unemployment steady at 9%? Unemployment is going up.
GDP up at 4%? GDP is going down.
It’s gonna get worse because the producers are not going to be led to slaughter.
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