U.S. government sees 2.7 percent growth in 2010, 3.8 percent growth in 2011

The U.S. government projects the economy will grow 2.7 percent in 2010 and 3.8 percent in 2011, according to the White House's federal budget unveiled Monday.

According to the White House budget proposal, the U.S. economy is heading for a six-year run of above-average economic growth with no sign of a worrisome spike in inflation or interest rates.

The 2.7 percent growth forecast for this year is largely in line with private forecasts. But beginning in 2011, the White House's projections diverge.

It expects six consecutive years of strong growth ranging from 3.2 percent to 4.3 percent -- well above what most economists consider the longer-term trend of around 2.6 percent.

The International Monetary Fund has forecasted 2.7 percent growth for the U.S. economy this year and 2.4 percent growth in 2011.

Source: Xinhua