Report forecasts economy 2009-19

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The Congressional Budget Office has issued its economic and budget predictions for FY2009 through FY2019 early to “aid the new Congress in its deliberations,” according to the CBO director’s blog. Outlook details: “A marked contraction in the U.S. economy in calendar year 2009” followed by a “slow recovery” in 2010. It also says America “is in a recession that will probably be the longest and the deepest since World War II.”