Shhh-Papa Obama's OMB slashed GDP forecast:2012- 2.3% from 2.7%, 2013- 2.7% from 3.0% Pretty pathetic growth Unlike fine wine, Papa Obama's economic numbers do not get better with age How much confidence should Americans have in the latest economic forecasts from the Obama White House? In its latest update, Obamas Office of Management and Budget slashed its GDP forecast for 2012, to 2.3% from 2.7%, and for 2013, to 2.7% from 3.0%. Pretty tepid growth. But then, supposedly, comes a mini-boom from 2014-2017 with the economy growing by 3.5%, 4.1%, 4.0% and 3.8%. Of course, the White House and its Keynesian economic models have continually forecasted mini-booms as being right around the corner. And those forecasts have yet to pan out.