Congressional economists warn of pain

Turkmenistan News.Net
Thursday 8th January, 2009

With the economy shrinking and unemployment soaring, the US Congress economic experts have warned of a ballooning of the budget.

The non-partisan Congressional Budget Office has said the economy will shrink more than two percent this year as the deficit hits a record-high $1.2 trillion.

The CBO experts have claimed the recession will probably end in mid-2009, but not before the unemployment rate soars above nine percent.

Have your say on this story