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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

Tabasco And Beer-Flavored: Not Your Easter Bunny's Jelly Beans

On the eve of Easter and National Jelly Bean Day, let us probe the mysterious origins and unexpected ascendency of the humble candy. And to celebrate, we've sampled Jelly Belly's newest flavors.
NPR

Tabasco And Beer-Flavored: Not Your Easter Bunny's Jelly Beans

On the eve of Easter and National Jelly Bean Day, let us probe the mysterious origins and unexpected ascendency of the humble candy. And to celebrate, we've sampled Jelly Belly's newest flavors.
NPR

Obama's Favorite County — At Least When It Comes To Giving Speeches

President Obama has visited Prince George's County, Md., four times this year. It is the most affluent county with an African-American majority. It also happens to be very close to the White House.
NPR

Ohio's Law Against Political Lying Heads To Supreme Court

Can a state law prevent political campaigns from doling out misinformation? Guest host Celeste Headlee learns more from The Plain Dealer's Sabrina Eaton.

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