An Alarming Projection - Full Employment in 2016?

I think this projection represents the truth of the matter regarding the topic of unemployment:

"The CBO report offered a sobering look at both the short-term and long-term fiscal outlook. It projected the unemployment rate would fall from 9.4% now to 9.2% by the end of this year and then to 8.2% by the end of 2012. It projected the unemployment rate wouldn't fall to typical pre-recession levels—about 5.5%—until 2016."

The CBO is the Congressional Budget Office, a non partisan group.

Paletta, Damian, Hook, Janet, Weisman, Jonathan, 2011. Deficit outlook darkens. The Wall Street Journal, Jan. 27.

The current optimism expressed by some analysts and even writers for the WSJ is not rooted in the reality of the situation.

America has a long way to go before all those who want to work have the opportunity. This is a major issue that will not recede in importance during the coming months. Perhaps the only cure is GDP growth rates in excess of a 4% annualized rate.