CBO Projections Show Little Improvement in Unemployment Rate Through 2013; Stimulus Spending Ineffective
Today the Congressional Budget Office released its expectations for the Unemployment Rate going forward. The CBO projects unemployment to fall by less than 1% over the next two and a half years, to approximately 8.2% at the end of 2013. This estimate is bleak and represents a stark contrast to claims that the Stimulus Spending Bill would reduce unemployment to 5.0% by the same date.
CBO projections are estimates made using a chart and disclosed figures for year-end 2011 and 2012. Link to chart.
Posted by Whitney Ross at 8/24/2011 8:35 PM 
Categories: Stimulus Spending Fraud, Focus on Unemployment
Categories: Stimulus Spending Fraud, Focus on Unemployment
Whitney: You probably know better than we do, what a farcical joke the CBO is -- Weathermen tell jokes about CBO economists!
Back in '01, CBO predicted no deficit for 2010. Last month during the important debt-ceiling debate, CBO predicted current $3.7T spending/year would translate to $46T spending over 10 years but the deficit would vastly improve because receipts would explode 2013 when tax rates shoot up! Yea, that'll really make the economy start humming in 2013 -- when tax rates explode and receipts explode! Riiiiiggggghhhhht. Those fools at the CBO would be overpaid at minimum wage!!!
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