The Obama administration now says U.S. unemployment could persist at its current stubbornly high level around 9% well into 2012.The Journal wrote the article, but the figures come from the White House. Scary.
A new economic forecast released Thursday suggests the White House is bracing for a weak economy in the coming election year, while bolstering President Barack Obama's calls for more government action to boost hiring and economic growth.
Mr. Obama is scheduled to address a joint session of Congress next Thursday to outline his latest economic proposals. His ideas could include "a mix of tax cuts to create jobs and provide economic security to the middle class, [and] innovative infrastructure ideas to put people back to work," as well as measures aimed at the long-term unemployed, the report said. White House press secretary Jay Carney suggested the measures could push the unemployment rate below 9%, but he also sought to avoid making predictions.
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