Economic Forecasts

2009
CBO Unemployment 9.3% Real GDP -2.5%
OMB Unemployment 9.3% Real GDP -2.8%

2010
CBO Unemployment 10.2% Real GDP 1.7%
OMB Unemployment 9.8% Real GDP 2.0%

2011
CBO Unemployment 9.1% Real GDP 3.5%
OMB Unemployment 8.6% Real GDP 3.8%

2012
CBO Unemployment 6.4% Real GDP 4.7%
OMB Unemployment 7.7% Real GDP 4.3%

The Obama administration said Tuesday that it now expects the 10-year budget deficit to reach $9 trillion, or about $2 trillion more than it estimated earlier in the year...

A 10-year deficit of that magnitude means the debt held by the public -- the accumulation of all annual deficits over the decades -- would reach 82% of gross domestic product. That's double the 41% recorded in 2008...


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