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hsumaker Doogliaunemployment rate may exceed 12 percent — the highest level since tracking began in 1948.
“We continue to see across-the-board numbers coming in worse than we expected,” Mr. Baker said.
By Mr. Zandi’s estimation, in the most likely case, the unemploymen-
“It’s a return to a sanguine view of the economy that is simply not justified.”
If, as is widely anticipated, the economy grows more slowly than the White House assumes, revenue will be lower, forcing the government to cut spending, raise taxes or run larger deficits.
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