The Congressional Budget Office is projecting that the nation’s unemployment rate will remain near 9 percent through 2012, representing a downgrade in the independent analyst’s economic prediction since a forecast released in August . CBO Director Douglas Elmendorf told members of a new congressional committee on deficit reduction created in the August debt deal that new economic data gathered in just the last few weeks has resulted in the dimmer projection. Read full article > >

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CBO head predicts slower economic growth before supercommittee