The Economic and Budget Outlook, May 2010. Presentation by CBO Director Doug Elmendorf to the 35th Annual AAAS Forum on Science and Technology Policy

• Economic Recovery Will Be Slow
• Severe economic downturns often sow the seeds of robust recoveries, with output and employment rebounding quickly.
• However, thecurrent recovery will be dampened by:
  –Continuing fragility of some financial markets and institutions.
  –Declining support from fiscal and monetary policy.
  –Restrained increase in household spending.