Conservative
Type 40
White House Projects 9 Percent Jobless Rate Ahead Of 2012 Election | FoxNews.com
The White House projects that the unemployment rate will still be above 9 percent next year as President Obama seeks to win a second term.
The new figures from the White House budget office predict that the economy will grow by just 1.7 percent this year, a full percentage point less than the administration predicted at the beginning of 2011. The economy grew by just 0.7 percent in the first half of the year, the slowest pace since the recession ended two years ago.
"By its own admission, the Obama administration's record on job creation and fiscal responsibility is abysmal," said Rep. Paul Ryan, chairman of the House Budget Committee.
"Today's report confirms that the president's policies have failed to deliver on his promises of job creation, deficit reduction, and much needed economic growth," he said. "Since taking office, the president's policies have made a difficult situation worse."
No president in modern times has won re-election with unemployment as high as 9 percent, and Obama's poll numbers have suffered in recent weeks amid a steady drumbeat of bad economic news.