Despite President Obama’s hubris over the ‘recovery’, his crowing about the jobs record, and his insistence that while “there’s more to be done,” everything is awesome, The White House just took the meat-cleaver to its US economic growth forecasts…cutting 2015 growth from 3% to 2%. That was not all though as their forecasts see no recession until at least 2025, unemployment under 5.0% for at least the next decade, stable inflation for 10 years, and last but not least – a 3-month T-Bill rate of over 3% within the next few years.
So growth is going to drop… but there’ll be no rise in unemployment, rates will surge but there will be no inflation outbreak, and trend growth now appears to be just 2.3%…
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