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Message: From GoLocalWorcester by Dan Forbes, GoLocalWorcester MINDSETTER™: The Congressional Budget Office (CBO) released their latest report this week on the country’s economic outlook, and most of the national attention is on the projected effects of Obamacare. There is a focus on the reduction in total work hours, but the report does anticipate overall employment and compensation to increase over the next decade. There is plenty of other interesting information as well, including a drastic reduction in the federal budget deficit from just five years ago. However, federal debt held by the public is still very high historically, and the CBO doesn’t anticipate a reduction over the next ten years. Near term GDP growth is expected to be strong while the labor market will remain weak. Finally, the report projects 9 percent increases in tax revenue in both 2014 and 2015. http://www.golocalworcester.com/business/friday-financial-five-february-7-2014
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