White House cuts long-run economic growth forecast By Jason

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White House cuts long-run economic growth forecast

Copies of U.S. President Obama's Fiscal Year 2014 Budget is on display at Government Printing Office in Washington By Jason Lange WASHINGTON (Reuters) - Beneath the customary optimism of a political policy pitch, the Obama administration has cut its outlook for how fast the U.S. economy can grow without generating inflation. As part of the assumptions underlying President Barack Obama's 2014 budget proposal released on Wednesday, the White House said the potential growth rate currently appears to be 2.4 percent a year. That is down from an estimate of 2.5 percent in the 2013 budget plan and from 2.6 percent in the 2010 proposal. ...


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