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CLU Economic Forecast Paints Grim Picture For California, Nation

Posted on Wednesday, September 28, 2011 8:06am

The latest economic forecast by economists at California Lutheran University, in Thousand Oaks paints a bleak picture of what California, and the nation can expect for the rest of the year.

California Lutheran University Center For Economic Research, and Forecasting Executive Director Bill Watkins says overcrowded freeways, water shortages, and slipping higher education systems are factors in the state’s economic decline.  He says many middle class families are fleeing the state, and predicts growth of only about two tenths of a percent for the rest of the year.

Watkins says the national picture is also bleak, with growth so small it won’t make a dent in unemployment.

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