CBO chief warns of long, slow recovery - Washington Times

CBO chief warns of long, slow recovery - Washington Times

The CBO chief told the congressional panel that he expected economic growth in fiscal 2010, which ends Sept. 30, will be just 1.6 percent, and the unemployment rate will average 10.2 percent. The outlook for fiscal 2011 is not much better, he warned, saying that growth in the nation's gross domestic product (GDP) will barely accelerate to 1.8 percent and the unemployment rate barely budge, averaging 9.8 percent for the year.