The President's Rosy Scenario

The President's Rosy Scenario

I accept been looking through the Obama administration's midsession review, which was released a few days ago.  I institute the comparing betwixt the adminstration's economical forecast as well as the Blue Chip consensus of somebody forecasters noteworthy.  (See the tabular array called "Table 3. Comparison of Economic Assumptions.")  Here is the projected increment of real GDP, 4th quarter to 4th quarter, of Team Obama inwards red, as well as private forecasters inwards blue.

2012 2.6 2.0
2013 2.6 2.5
2014 4.0 3.1
2015 4.2 3.0
2016 3.9 2.9

Of course, the Administration's optimistic forecast feeds straight into its budget projection.  If nosotros teach the slower increment that somebody forecasters predict, nosotros volition teach less revenue enhancement revenue as well as larger budget deficits than the Administration projects.
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