Tuesday, March 24, 2009

Obama's Budget Assumptions are Rubbish

Associated Press, March 24, 2009

President Barack Obama's plea for patience in the economic turmoil Tuesday fits with the view of most economists that a turnaround will take some time. It doesn't fit quite so neatly with his bullish budget.

The president's spending plans and deficit projections rest on the assumption that the economy will post solid growth next year after a mild, further decline this year. Many economists think that's too rosy.

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