CBO: 8%-plus unemployment into 2014

The Congressional Budget Office is projecting unemployment of more than 8% throughout this election year and into 2014.

According to the CBO:

"The rate of unemployment in the United States has exceeded 8 percent since February 2009, making the past three years the longest stretch of high unemployment in this country since the Great Depression."

It added:

"CBO projects that the unemployment rate will remain above 8 percent until 2014. The share of unemployed people who have been looking for work for more than six months -- referred to as the long-term unemployed -- topped 40 percent in December 2009 and has remained above that level ever since."

Republicans are citing the new CBO report as an indictment of Obama's economic policies:

"Today, there's no denying the fact that his stimulus policies not only failed, they made things worse," said House Speaker John Boehner, R-Ohio.

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