CBO says current Obama plans will increase unemployment to 9.1% in 2013

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9/6/12, "CBO: Under Current Law, Unemployment Will Rise Next Year to 9.1%," CNS News, E. Harringotn

"The Congressional Budget Office (CBO) is projecting that if changes in federal taxing-and-spending policies already enacted and set to take effect at the beginning of next year do in fact take place, the unemployment rate will climb to 9.1 percent.

In a report released on Aug. 22, An Update to the Budget and Economic Outlook: Fiscal Years 2012 to 2022, CBO’s baseline projections show that by the fourth quarter of 2013 the national unemployment rate will be 9.1 percent.

The estimate is based on the assumptions that the automatic caps on federal spending mandated under the Budget Control Act will take effect and that the extensions of the Bush-era tax rates enacted in 2010 will also be allowed to expire as they are set to do after Dec. 31."...via Instapundit

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