Since President Barack Obama took office in January 2009, the number of employed Americans increased by 9.9 million, but there were 14.6 million more who left the labor force, according to the latest numbers from the Bureau of Labor Statistics.
The pace of economic growth in the United States since the end of the recession in 2009 has been slower than that of the previous 10 expansions, with the worst rate since at least 1949, according to a report from the Congressional Research Service.
President Obama is set to return to Elkhart, Indiana, Wednesday to position the region’s slashed unemployment rate as a success story of his administration’s $800 billion economic stimulus package.
A Federal Reserve official forecasted lower GDP growth for 2016 than levels seen during the already weak post-recession expansion.
Despite increasing federal revenues, debt held by the public is projected to increase 71 percent over the next decade, according to the Congressional Budget Office’s annual economic outlook.