Friday, February 8, 2013
CBO Paints Rosier Economic Picture for 2013
http://www.usnews.com/news/articles/2013/02/05/cbo-paints-rosier-economic-picture-for-2013. Due 11 February 2013. Discuss 2 positive and 2 negative predictions regarding the economy in 2013.
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The 2013 economy has a positive outlook as we climb our way out of the recession, yet still holds negative predictions for our economy based on where our nation’s growth has been previously. The two positive predictions for our economy are that for the first time in the past five years, the government is projected to have a deficit below $1 trillion. Also, the CBO now predicts growth of 1.4% in 2013, with unemployment at 8% at the end of the year, better than previous forecasts. However, as for the negative projections, the CBO thinks the debt will remain “historically high”- around $12.2 trillion, or 76% of the GDP at the end of the fiscal year for 2013. If that holds true, it would be the highest share of GDP that the national debt will be since 1950. Another negative prediction is that if the economy only grows by 1.4%, it would be down from the 1.9% it was in 2012.
ReplyDeleteThe economy in 2013 is looking much brighter than the economy in 2012. However, there are still negative predictions for this year. Two negative predictions would be such as turning away from the fiscal cliff because of all the cutbacks. Also, these are just predictions for the year, it still depends on the spending. The positive predictions would be such as the government projecting to have a deficit spending of below 1 trillion dollars. In addition, the office projects a GDP growth of 1.4 percent this year.
ReplyDeleteThe 2013 economic climate is definitely predicted to be much better than that of these past few years. For example, the government is expected to have a deficit below $1 trillion, whereas in years past this has been unattainable. Another positive prediction for this year's economy is that the Congressional Budget Office predicts that growth will reach 1.4% by the end of the year, with unemployment rising to 8%. Though that may seem bad, it is much better than earlier CBO predictions. However good these predictions might seem, our economy is still not its best, and the CBO and others have plenty of negative predictions as well. For example, if the economy only grows 1.4%, that's a .5% slowdown from the 2012 growth rate of 1.9%. Further, even though unemployment is slowly shrinking, if it remains above 7% through 2014 (as the CBO projects), it will be the 6th consecutive year with the jobless rate above 7 percent. That will make it the longest period of sustained high unemployment in 70 years. So, long story short, we are improving, but 2013 may not be the year that all of our problems go away.
ReplyDeleteThe 2013 economic climate forcast has several reasons to have people to feel more positive. For one, the government is expected to have a deficit below $1 trillion; a feat once thought to be improbable. Another reason for people to look on the bright side is that the CBO now predicts growth of 1.4% in 2013, with unemployment at 8% at the end of the year, better than previous forecasts. Although there are some negative outlooks form this year forecast. The main one being if the economy only grows 1.4%, that's a .5% slowdown from the 2012 growth rate of 1.9%. Another negative outlook is that the CBO thinks the debt will remain historically high, around $12.2 trillion, or 76% of the GDP at the end of the fiscal year for 2013
ReplyDeleteThe nations economic status for 2013 is looking promising based on CBO predictions. The deficit is projected to be under $1 trillion, about half of where the deficit was in 2009, and the office projects economic growth of 1.4 percent this year, with unemployment at 8.0 percent at the end of the year. The downfall however, is that debt as a share of economic output would remain at "historically high" levels—around $12.2 trillion, or 76 percent of GDP at the end of fiscal year 2013. That's the highest share of GDP that the national debt will have been since 1950, according to the CBO. Also, if the economy only grows by 1.4 percent in 2013, that's a slowdown from around 1.9 percent in 2012.
ReplyDelete-Jacob Hochman
Jaime Caldaro
ReplyDeleteThe nation's future is looking better for 2013 with a deficit below one trillion, but the growth rate is expected to go down .5%. The growth rate in 2012 was 1.9 and 2013 is only exected to reach 1.4. The debt will remain extremely high comparable to the 1950s. Unemployment has been projected to go down to 8%.
Two positives our 2013 economy is predicted to have are a deficit under a trillion dollars, $845 to be exact and the projection of 1.4 percent growth and 8 percent unemployment. Although our economy seems to be looking promising, the 8 percent unemployment means that it is another consecutive year we will have a jobless rate above 7 percent. The 1.4 percent will also mean that there will be a slow down compared to 2012.
ReplyDeleteThis article talks about the nations future and how Obama cut 1.2 Trillion off the debt since Obama took office in 2008. The growth in 2013 is expected to go down from 2012 because it was 1.9% in 2012 and it is only expected to get to 1.4%. Unemployment is also expected to go down and the debt will still be high but it will continue to decrease if Obama keeps doing what hes doing
ReplyDeleteThe countries projected growth of 1.4 in GDP will bring a good economic year for 2013 though it would be less than in 2012 which can be seen as both positive and negative. The outlook for the job market is bright, unemployment is predicted to drop throughout 2013 and bring a more prosperous time than what our nation has seen in the past 5 years. Unfortunately out country's debt is still looking a little bad. Okay, maybe a lot bad, "historically high" levels around 12.4 trillion seem a bit discouraging.
ReplyDeleteConsidering the state the economy was in, every little step counts towards making it better. It is estimated that the deficit will come in under one trillion dollars this year which is half of what it was in 2009. I think that's a long way to have come since. Even though it was estimated that the economy would shrink by 0.5% in 2013, it now has a projected growth of 1.4%, however, this is down from 1.9% in 2012. In this light, it can be seen as positive or negative.
ReplyDeleteThe economy in 2013 looks a lot better than it did in the past few years. The CBO(Congressional Budget Office) predicts that for the first time in the past 5 years that we will have a deficit below a trillion dollars. This is about half of where it was at 5 years ago. There is also a prediction by the CBO that the United States economy would shrink by at least .5% with unemployment at 9.1%. This is about 1.4% growth this year with unemployment at 8.0%. Although we are getting close to recovery the outlook the CBO published doesn't seem very good.
ReplyDeleteAlthough the deficit has been predicted to fall one trillion dollars (a goal once thought unobtainable and a first in over 5 years), and the economy is projected to grow at rate of 1.4%, people continue to look at the negative side of our economy. Critics are pointing out the 8% unemployment rate which makes it another year above 7%, and the fact that the projected growth rate has decreased since the 1.9% in 2012.
ReplyDeleteThis year's economy looks a lot better than that of the past few years. For instance, the gov't's deficit is expected to be below $1 trillion. This looked impossible for prior years. Alongside that, the Congressional Budget Office thinks growth will reach 1.4% at the end of this year and unemployment will rise to 8%. This happens to be much better than previous predictions. There are many other negative predictions, too. Our economy is definitely improving, but we have a long way to go before we see the end of these problems.
ReplyDeleteOne positive prediction coming from the CBO was that the deficit, for the first time in a long time, would be under $1 trillion. A second positive prediction would be that the economy is projected to grow 1.4% in the next year. However, all of these positive predictions will also bring about negative ramifications. First, debt will be about 76% of the GDP for this year which is labeled as a historically high level. Also, unemployment would be pushed to 8% which means that is another consecutive year that the unemployment is above 7%.
ReplyDeleteIn 2013, economic forecasters are predicting many more positive expectations than 2012. First off, the CBO is predicting the deficit to be under $1 trillion. Also, they are expecting a strong growth of 1.4 percent and an unemployment at 8 percent. Although this may sound good, if the unemployment rate stays at 8 percent, it will be the 7th consecutive year with the jobless rate over 7 percent.
ReplyDeleteThe economic outlook for 2013 seems pretty good. This is shown in the 2013 deficit of $845 billion; about half of what it was in 2009. Another positive example is that the growth is predicted to be at 1.4%. However, this can also be seen as bad since the 2012 growth was at 1.9%. Also, unemployment will not be down to the wanted 7%, but rather 8%.
ReplyDeleteThe Economy is predicted to be positive in the year 2013. The CBO predicts the deficit will drop to under 1 trillion, and they are expecting steady growth rates of 1.4%. However, this will be the 7th year with the employment rate above 7% if the rate of unemployment does not drop. Though there are a few negative predictions, the economy does seem to be slowly recovering.
ReplyDelete