Obama Economic Report | USsPost.com
February 11, 2010 by Post Team
Obama Economic Report | USsPost.com:The president’s annual economic report projects the same thing the administration’s budget did last week: Slow job growth for this year.
The Obama administration predicts that job gains will average 95,000 a month, below private blue chip forecasts of 116,000 per month. In the budget proposed last week, aides projected that the unemployment rate would be 9.8 percent at the end of this year; it is currently 9.7 percent.
The report added that, “employment growth is unlikely to be large enough to reduce the employment shortfall dramatically in 2011.”
Christina Romer, who chairs the White House Council of Economic Advisers, told reporters the nation is still trying to dig out from the financial crisis of 2008.
“This has been a year of such incredible economic challenge,” she said. “What the president had to deal with since the minute he took the oath of office is enormous.”
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