A joint statement from the Treasury, Office of Management and Budget and the Council of Economic Advisers says that the US economy has pulled out of an uncontrolled freefall to approximate stability. Job losses have slowed to a trickle but the unemployment rate is unlikely to decline this year. US unemployment is likely to remain elevated for some time but the average rate may be lower than forecast for 2010. Passage of pay-as-you go budgeting rules and a strengthening economy should lead to lower deficits of approximately 5% of GDP by mid-decade, the statement says.