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Economy To Slow This Year As The Government Tightens, CBO Says

While the economy will benefit from continued improvement in "underlying" conditions, the federal government's push to tighten its spending will slow overall growth in 2013, the Congressional Budget Office projects.

In an updated "Budget and Economic Outlook" reported released Tuesday afternoon, the agency forecasts:

-- 1.4 percent growth in gross domestic product this year, vs. 2.3 percent in 2012.

-- 2.6 percent growth in 2014.

-- 4.1 percent growth in 2015.

Meanwhile, the unemployment rate won't come down much:

-- It's expected to average 7.9 percent this year, vs. 8.1 percent in 2012.

-- 7.8 percent in 2013.

-- 7.1 percent in 2015.

As we reported earlier, the CBO's projections and the threat deep spending cuts could pose to the economy are among the reasons President Obama today urged Congress to pass a smaller package of spending reductions and tax changes that would take effect before the automatic "sequestration" takes effect on March 1.

Copyright 2013 NPR. To see more, visit http://www.npr.org/.

NPR

Chasing Food Dreams Across U.S., Nigerian Chef Tests Immigration System

Tunde Wey wanted to share the food of his West African childhood. So he crossed the U.S. by bus, hosting pop-up dinners along the way. But Wey, like many immigrants, found success can unravel quickly.
NPR

Chasing Food Dreams Across U.S., Nigerian Chef Tests Immigration System

Tunde Wey wanted to share the food of his West African childhood. So he crossed the U.S. by bus, hosting pop-up dinners along the way. But Wey, like many immigrants, found success can unravel quickly.
WAMU 88.5

New Challenges To Recycling In The United States

Falling commodity prices are putting a squeeze on American recycling companies. What this means for cities, counties and the future of recycling programs in the United States.

WAMU 88.5

UMBC President Freeman Hrabowski

Kojo chats with Freeman Hrabowski, the president of University of Maryland, Baltimore County, about the future of higher education - and what he's doing to steer African-American students into science, technology, engineering and mathematics.

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