Thank you, mr. Chairman. To other members of the committee, i appreciate the opportunity to be heard today to discuss the cbs outlook for the budget and economy over the next 10 years. Our Analysis Shows the country continues to face very large, economic and budget challenges. Let me discuss the economy first and then ill turn to the budget. We anticipate Economic Growth will remain slow this year because the gradual improvement we see an underlying economic factors will be offset by tightening the federal fiscal policies scheduled under current law. The cuts in federal spending scheduled to take effect next month lemine reduce spending by households in the government. We protect inflationadjusted gdp will increase by about 1. 5 in 2013 but it would increase roughly 1. 5 Percentage Points faster were it not for the fiscal tightening. Under current law then, we expect the Unemployment Rate will stay above 7. 5 through next year. That would make 2014 the sixth Consecutive Year with unemp
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