Posted on 02/01/2021 8:37:15 AM PST by Oldeconomybuyer
The Congressional Budget Office expects the U.S. economy will grow at a 4.6% annual rate this year, with employment returning to pre-pandemic levels in 2024.
The 10-year outlook issued Monday said the economic recovery from the coronavirus has been boosted by an unprecedented wave of government spending to combat the outbreak, such that growth could pass its maximum sustainable level in early 2025 before returning to a long-run average of 1.7%. Based on the CBO’s projections, economic growth would be the strongest since 1999.
While the growth estimates suggest a quick snapback in gross domestic product, the CBO shows that hiring will occur at a lag as consumer spending returns and employers become more comfortable with adding workers.
The CBO cautioned that its projections are highly uncertain, in large part because of the pace of the vaccinations and the risk of new variations of the coronavirus. A faster vaccination process — the goal of both aid proposals — would help hiring and growth.
(Excerpt) Read more at apnews.com ...
So what...any numbers they can’t reach-they will lie about!
Wow, “great job”, Joe..employment projected to return to pre-pandemic levels by 202*4*.
If Trump were still in office, we’d return to pre-pandemic employment levels this year, EASILY.
Guess “regulate, tax & spend” isn’t such a great economic strategy after-all, eh?
The CBO can say whatever it wants. The people who run the economy aren’t listening.
Or learning how to code.
—
...or work land mines!
Remember how they had to ‘revise downward’ every single time with Odumbass?
Won’t matter anyway the way he’s running this country a group of purple aliens could run as Republicans and take back the house
Budget office projects 4.6% growth in Biden’s first year
What a joke! Government numbers. As real as Harry Potter, COVID, election results and the Easter bunny.
Ohhhh...growth...I read a increase in gross.
Just a slight omission. (-)4.6%
The next 4 years will be worse than the Jimmy Carter years.
I remember CD interest rates nearly 17%. Inflation was double digits. Lines to get Gasoline for your family vehicle at times were 2 miles long.
And yup Biden will screw it up worse.
imho
LOL
Growth for whom? China?
Sure. Why not? They can phony up the numbers just like the election.
The media will lead with the story for a week.
I suppose it is possible since we’re still recovering from the COVID cratering of the economy, but I’ll believe it when I see it.
Whatever the growth rate is, if it’s like 0.9% I would expect them to lie about it as long as they can. Employment always seems to lag with Commiecrats.
WTF ever.
You gain 50#’s and lose 40#’s
Yer still fatter than you were...
4.6 percent? Why not? After all Obozo did it easily in his 8 years... oh wait...
“Employment always seems to lag with Commiecrats.”
It lagged 8 years with Obamao. Their employment reports always come with serious DOWNWARD revisions months later, too.
Growth of what? Fungus?
Yeah, the number of government employees will probably grow at least that much and their salaries by 10% but the rest of the country, not so much.
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