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**amagmasia** · 09-02-2011, 12:23 AM

LA Times: http://www.latimes.com/business/la-f...,7026111.story

In a move underscoring the urgency of the nation's economic problems, the White Houseissued a new assessment that predicted continued high unemployment through 2012.

The grim outlook, part of the summer report on the nation's budget and the economy, was released Thursday as President Obama prepared to announce new stimulus proposals next week.

The administration said that based on the latest economic data, it now expects the unemployment rate to end the year at 9.1%, which is where it stood in July. The jobless figure for August will be released Friday with accompanying statistics on job creation.

The report shows the bind policymakers are caught in: A stagnating economy reduces tax revenue and increases the deficit, but government measures that economists say are needed to stimulate the economy also cost money and also add to the deficit — at least in the near term.

09-02-2011, 12:23 AM	#1
amagmasia Join Date Oct 2005 Posts 429 Senior Member	White House forecasts high unemployment through 2012 LA Times: http://www.latimes.com/business/la-f...,7026111.story In a move underscoring the urgency of the nation's economic problems, the White Houseissued a new assessment that predicted continued high unemployment through 2012. The grim outlook, part of the summer report on the nation's budget and the economy, was released Thursday as President Obama prepared to announce new stimulus proposals next week. The administration said that based on the latest economic data, it now expects the unemployment rate to end the year at 9.1%, which is where it stood in July. The jobless figure for August will be released Friday with accompanying statistics on job creation. The report shows the bind policymakers are caught in: A stagnating economy reduces tax revenue and increases the deficit, but government measures that economists say are needed to stimulate the economy also cost money and also add to the deficit — at least in the near term.
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