Government Dreamer’s

Posted By on February 13, 2012

Nobody on the planet is expecting GDP growth this high….2.7% never happens!  You heard it first here.  The smartest guys in the universe are much more conservative. 

From Bridgewater: Recent better-than-expected news on the U.S. economy is unlikely to be the start of a healthy expansion. The uptick in economic growth has been fueled by a decline in the savings rate, which, without material income and employment gains, is unlikely to be sustainable as long-term credit growth also remains weak.  PIMCO has also projected the same theme …..

The Obama administration’s new budget expects the U.S. economy will grow 2.7 percent this year, a forecast that’s more optimistic than those of private economists and Federal Reserve policy makers.

Federal Reserve policy makers on Jan. 25 forecast the U.S. economy would grow between 2.2 percent and 2.7 percent this calendar year, while the International Monetary Fund estimates a 1.8 percent increase.

The White House projections released today call for GDP (growth domestic product) growth of 3.6 percent in 2014 and 4.1 percent in 2015. They foresee the jobless rate dropping to 8.1 percent in 2014 and 7.3 percent in 2015.

In today’s budget report, the administration projected theconsumer price index would rise 2.2 percent this year, 1.9 percent in 2013 and 2 percent the following year.

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