9/2/2011

The White House lowered its forecast for 2011 gross domestic product growth to 1.7%, compared with a prediction of 2.7% in February. Unemployment will hold at 9.1% this year and decline to 9% in 2012, according to a budget review. "The economic projections make clear there is a real need in the short term to kick-start economic growth and get on a sustained higher growth path," White House budget chief Jack Lew said.

Full Story:
Reuters

Related Summaries