Last month, the Congressional Budget Office offered a mildly apocalyptic assessment of the economic crash, projecting that U.S. unemployment will top out at 16 percent in the third quarter, and still be at 10.1 percent in 2021.

Are you ready for a little good news? I mean, a really little bit of good news? The CBO’s updated projection released yesterday puts the third quarter’s unemployment rate at “only” 15.8 percent, and all the way down to 9.3 percent in 2021.

The CBO’s projection of second quarter GDP has marginally improved from -11.8 percent to merely -11.2 percent.

Yay?