(wire)
CBO: Unemployment rate to stay high through 2012
The unemployment rate is unlikely to sink below 8 percent before 2012, according to the nonpartisan Congressional Budget Office (CBO).
In addition, inflation is likely to remain low for the foreseeable future as the nation continues to recover from the financial crisis.
House Democrats last month passed a $155 billion bill intended to boost employment by increasing infrastructure spending and aid to struggling states that are faced with laying off public employees.
Meanwhile, Senate Democrats are fashioning their own bill that is expected to be completed in the next several weeks.
In addition, inflation is likely to remain low for the foreseeable future as the nation continues to recover from the financial crisis.
House Democrats last month passed a $155 billion bill intended to boost employment by increasing infrastructure spending and aid to struggling states that are faced with laying off public employees.
Meanwhile, Senate Democrats are fashioning their own bill that is expected to be completed in the next several weeks.
