Quote:
Originally Posted by spence
Obama's budget was put up by Republicans trying to embarrass the president. It was a stunt.
-spence
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if the budget was not embarassing...it wouldn't have been much of a stunt
wasn't it a 3.6 Trillion dollar budget?
and
President Obama’s economists are nothing if not optimistic. In the fiscal year 2013 presidential budget request, they’ve once again forecast higher future growth than their private-sector peers – about a half-point of gross domestic product growth more, per year, than the 45 economists included in the Philadelphia Fed’s Survey of Professional Forecasters.
The Obama budget, released Monday, forecasts 2.7 percent real GDP growth this year and 3.0 percent next year. Growth increases to 3.6 percent in 2014 and 4.1 percent in 2015. The highest the Philadelphia Fed consensus projections peg growth at 2.3 percent this year and slowly rising to 3.1 percent in 2015
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Jul. 27, 2012, 8:30 AM | 3,842 | 24
UPDATE:
The U.S. economy expanded by 1.5 percent during the second quarter, topping expecations
( well, not Obama expectations) for a 1.4 percent gain, new data out of the Bureau of Economic Analysis shows.
Nonetheless, the government figures continued show that the nation's economy is on uneven footing and losing momentum.
During the first three months of the year, the country's gross domestic product expanded by a revised 2.0 percent, moderately faster than the pace seen today.