The C.B.O. has released a new report about the upcoming January tax increases.
The report says that the economy will face some "contractions" during 2013. They are optimistic that things will turn around soon.
"After next year, by the agency’s estimates, economic growth will pick
up, and the labor market will strengthen, returning output to its
potential level (reflecting a high rate of use of labor and capital) and
shrinking the unemployment rate to 5.5 percent by 2018."
Wow 5 % by 2018!
What a bright sunny future we all have.
Now when I was a teen in the 1970's I remember the economic mantra that Full Employment was 3.5%. And we are supposed to get happy about 5% SIX FUCKING YEARS down the road???
Well it isn't like Mitt could have stopped the Bush Tax cuts from expiring, before he became POTUS, but nothing good is going to happen with SCoaMF in the Oval Office in January.
Happy Thursday.
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