Douglas Elmendorf held a news conference on the just released projection of the federal budget and the economy for the next decade. Topics included debt levels, gross domestic production, and demographics. He said that unemployment was expected to remain above 7.5 percent through 2014, and budget deficits in the upcoming decade would total approximately $7 trillion. The report also showed that 2013 economic growth would be about half of what it could have been if not for scheduled budget cuts and tax increases.