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MECHANICAL CONTRACTING | BESCHLOSS | CONTINUED FROM PAGE 62


government fiat on these businesses’ personnel complement. It is a major factor for the absence of supplemental employment, which was a major plus in previous post-recession recoveries.


Congressional budget office’s long-term outlook based on rosy assumptions


The ostensibly politically neutral Congressional


Budget Office calls for a 2011 fiscal year (ending September 30) deficit of $1.3 trillion, substantially lower than the $1.8 trillion anticipated early in the year. This is pretty much in line with last fiscal year’s


The Original Great White 64


results and attributes its improvement to better than expected tax collections and enforcement of government spending cutbacks agreed to in the 2010 year-end lame duck Congress. This was most recently supplemented in the $2.7 trillion debt ceiling pact of early August. The CBO’s


longer term assumption holds little hope for unemployment improvement in the foreseeable future. In the critical period leading up to the November 6, 2012, presidential election, the CBO sees the official percentage of joblessness at 8.5— 8.7%. This would be the highest percentage of registered unemployed since the Great Depression and President Roosevelt’s landslide reelection in 1936. It would also reflect those not fully employed in the 15% range of the nation’s 153 million employables. The CBO


predicts that this indigestible lump weighing on America’s shaky economic recovery is not expected to get to an acceptable five percent unemployment level until 2017. Other


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