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CBO expects rising unemployment, slow exit from inflation | ap

WASHINGTON (AP) — The Congressional Budget Office said Wednesday it expects the U.S. economy to stagnate this year with the unemployment rate rising to 5.1% — a bleak outlook that’s been matched by a 10-year projection that US government debt nearly doubled to $46.4 trillion in 2033.

The Budget and the updated 10-year economic outlook outlined strong expectations for next year as high interest rates and inflation, albeit declining, continue to hit US households and businesses.

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