Growth Forecast

(Reuters) – President Barack Obama on Thursday sharply cut estimates for U.S. economic growth, underscoring the difficult challenge he faces in spurring a stronger recovery and creating more jobs. The president, who must curb high unemployment to improve his chances of winning re-election in 2012, will give a major speech on September 8 on how he plans to lift hiring and growth. “The economic projections make clear there is a real need in the short term to kick start economic growth and get on a sustained higher growth path,” White House budget chief Jack Lew told reporters on a conference … Read more