Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty
 

Obama Administration Downgrades Economic Forecasts

September 6, 2011 by  

Although the Administration of President Barack Obama has tried to garner support for its economic plan, officials have said the forecasts that were put out could be wrong, The Los Angeles Times reported.

Administration officials noted the forecasts that were originally put forward could be too optimistic, and that a downgrade of these predictions would be necessary, signalling a further decline of the economy, according to the newspaper.

Early this year, the White House said 3.1 percent growth for the gross domestic product was likely. Officials now believe growth may be less than 2 percent. The same type of downgrade is applicable for the unemployment rate, reported the Times.

“Today’s report confirms that the president’s policies have failed to deliver on his promises of job creation, deficit reduction and much-needed economic growth,” Representative Paul Ryan (R-Wisc.) said in a statement.

Although the numbers that were released from the White House have signaled that economic growth has slowed, officials from the Administration deny that the country is heading for a double-dip recession, according to Bloomberg.

Special To Personal Liberty

You Sound Off! is written by our readers and appears the last Wednesday of each month. If you would like to submit an article or letter to the editor for consideration for You Sound Off!, send it to yousoundoff@personalliberty.com by the Friday before the last Wednesday of the month. To be considered, a submission should be 750 words or less and must include the writer's name, address and a telephone number. Only the writer's name will be published. Anonymous submissions will not be considered.

Facebook Conversations

Join the Discussion:
View Comments to “Obama Administration Downgrades Economic Forecasts”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at newstips@personalliberty.com

Bottom
close[X]

Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to PersonalLiberty.com,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.