Today, the Administration released its midyear review of the annual budget showing even the White House believes unemployment will average at least 9% through 2012, well above their original prediction that the $825 billion stimulus would keep unemployment below 8%.
January 10, 2009: President Obama’s Economic Advisors Predicted That The Stimulus Would Keep The Unemployment Rate Below 8 Percent.
- Unemployment Rate For 2009: 9.3%
- Unemployment Rate For 2010: 9.6%
- Unemployment Rate For 2011 (WH Projection): 9.1%
- Unemployment Rate For 2012 (WH Projection): 9.0%