Ben Bernanke

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Federal Reserve expects high unemployment until possibly 2015

Federal Reserve Chairman Ben Bernanke announced a decrease of only .4% to the unemployment rate by the 4th quarter of 2013 (7.3% unemployment). Net GDP growth of .6% to .9% in 2 years is projected. Current foreclosure proceedings are 1.4 million. Over 1.3 million fewer self-employed exist today than 4 years ago, and the number is currently getting worse. And the Fed is spending the entire 2013 Sequester amount every month. Summary – the economic policies of the Obama Administration, in conjunction to the actions of Congress, are a failure. They will remain a failure for years to come.

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