President Barack Obama’s economic forecasts for long-term growth are too optimistic, many economists warn, a miscalculation that would mean budget deficits will be much higher than the administration is now acknowledging.
The White House will be forced to confront the disconnect between its original, upbeat predictions and the mainstream consensus about how the economy is likely to perform in a new budget forecast to be unveiled next month.
Christina Romer, chairwoman of the White House’s Council of Economic Advisers, said in a POLITICO interview that the administration — like many independent economists — did not fully anticipate the severity and pace of this recession. She said the White House will be updating its official forecasts.
The new numbers will come as part of a semiannual review that, under ordinary circumstances, is the kind of earnest-but-dull document that causes many Washington eyes to glaze over.
This time, however, the new forecasts — if they are anything like what many outside economists expect — could send a jolt through Capitol Hill, where even the administration’s current debt projections already are prompting deep concerns on political and substantive grounds.
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5 comments:
Do you folks really believe they keep getting it wrong?
All of these people are just stupid?
Isn't it easier to believe they are lying to us? They are destroying our economy on purpose.
3:18...you are just stupid. Your simplistic mind actually sends you to a place where 3:18 has all the answers and the expert intellectuals have no clue. You have left the planet.
Obama's house of cards is becoming closer and closer to collapsing.
But the wreckless policies could not be by accident.
Obama the commie is following rules for radicals to the letter. He is attempting to destroy the economy in this country so he can replace it with a socialist economy.
Soon they will make a move to take away the guns. Mark my words.
It will come soon.
Probably after he gets the American hater judge on the court.
3:47
You misunderstood the sarcasm of 3:18. She was saying the keep telling us they "got it wrong". Things are now worse than they originally thought. So 3:18 says, they want us to believe they are stupid. 3:18 does not believe they are stupid. 3:18 believes they really are experts like you say. If they are experts, then they are lying to us. get it?
Stay the course.
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