The annual Economic Report of the President was released yesterday and it’s pretty gloomy – predicting slow employment growth this year and next. It basically says that the US economy will add an average of 95000 jobs a month this year, but that’s not enough to make much of a dent in unemployment. The unemployment rate is projected to come down quite slowly after that, averaging 8.2 percent in 2012, when Obama will be up for reelection.

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