I'm putting my money on worse than expected growth, and higher than anticipated deficits and unemployment for the next two years.
Some may call me a bear, but I prefer the word 'realist'"
So of course, the Obama budget projections of growth in the next few years are dead on arrival. Not realistic.
But then, when have budget projections ever been related even remotely to reality?
Just look back a few budgets and compare the projections of growth, or spending to what actually transpired a few years later.
Q4 GDP Revised Much Lower
Updated: 27-Feb-09 08:53 ET
To no one's surprise, Q4 GDP was revised down, although the revision was larger than expected. Specifically, Q4 real GDP decreased at an annual rate of 6.2% versus a previously estimated 3.8%.