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CBO Projects More Severe Downturn

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Author Info
Dean Baker

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Abstract

The new economic projections from the Congressional Budget Office show the economy remaining well below its potential level of output until 2014. The projections show the unemployment rate averaging 10.2 percent in 2010 and gradually edging down to the long-term sustainable rate of 4.8 percent by 2014. Over this 4 year period, the workforce will face a substantially higher risk of unemployment or underemployment due to insufficient demand in the economy. This paper highlights some of the main implications of CBO’s new economic projections.

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File URL: http://www.cepr.net/documents/publications/cbo-2009-08.pdf
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Publisher Info
Paper provided by Center for Economic and Policy Research (CEPR) in its series CEPR Reports and Issue Briefs with number 2009-29.

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Length: 5 pages
Date of creation: Aug 2009
Date of revision:
Handle: RePEc:epo:papers:2009-29

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Related research
Keywords: right to rent; foreclosures; housing;

Find related papers by JEL classification:
E - Macroeconomics and Monetary Economics
E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
E2 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment
E20 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
E21 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
E22 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
E23 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Production
E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
H - Public Economics
H6 - Public Economics - - National Budget, Deficit, and Debt
H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus

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This page was last updated on 2009-11-14.

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