10% unemployment expected in a few months

From the AP:

The White House says double-digit unemployment is coming sooner than previously acknowledged.

White House spokesman Robert Gibbs says the president expects the nation will reach 10 percent unemployment within the next few months.

In an interview with Bloomberg last week, President Barack Obama said he expected the nation to reach 10 percent unemployment sometime this year.

The current unemployment rate reached a 25-year high of 9.4 percent in May.

President Obama is at least starting to realistically assess what happens when the unemployment reaches at least 10 percent. So, with this expectation, the next obvious question to his advisors will probably be how will things look with 10 percent+ unemployment. It's a step in the right direction at least. Stress tests will need to be re-done as well.