Obama’s Economic Forecast Relies on Rosy Assumptions

The White House Council of Economic Advisers devotes a good deal of space in the 2015 Economic Report of the President, published today, to the considerable successes of the last year, in which the economic recovery finally began to take hold. The administration forecasts the long-run potential GDP growth rate in the U.S. to be 2.3 percent a year — at the very top end of the estimates from outside groups — and assumes a plethora of administration priorities are acted on in order to help the