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Economic Impact of Katrina: Forecasts and Predictions

Back to discussing the economic impact of Katrina, the latest predictions about this have just been released by the Congressional Budget Office (CBO), and the forecasts are interesting.

How many jobs do you think will be lost in the U.S. as a result?

How much will the U.S. economic growth be reduced?According to the CBO,

the U.S. will lose 400,000 jobs and 1% of its economic growth.

Some predict a short-term economic setback, but long-term growth. For example,

Goldman Sachs lowered its forecast for U.S. economic growth for the rest of 2005 but raised 2006 estimates, based on the storm’s impact.

The CBO noted that the President has authorized 10.5 Billion in aid, and will be authorizing a lot more soon.

Read here from money.cnn.com’s report on katrina and its economic impact.

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    • Posted by Michael Harris
    on September 7, 2005
    General

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