UNEXPECTED BFD News for Smartest Administration Eh-Vah
Today’s Recovery Bummer round up:
The nascent US economic recovery would be halted in 2011 if Congress fails to extend the Bush tax cuts for the wealthiest Americans, analysts at Deutsche Bank said.
Ouch! That’s gotta hurt!
WASHINGTON — The U.S. economic recovery will remain slow deep into next year, held back by shoppers reluctant to spend and employers hesitant to hire, according to an Associated Press survey of leading economists.
The latest quarterly AP Economy Survey shows economists have turned gloomier in the past three months. They foresee weaker growth and higher unemployment than they did before.
…The unemployment rate will be no lower at the end of the year than it is now — 9.5 percent.
A majority think it will be 2015 or later before the rate falls to a historically normal 5 percent.
Whoa! That’s sure gonna leave a mark!
I’ll bet somebody’s gonna need a vacation when he hears this. Whaddaya think? Any takers?
Biz, Life, Nanny State, People, Politics | tree hugging sister | 
July 29, 2010 11:34 am
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Way to go, AP. Blame consumers without explaining just why they aren’t spending. Couldn’t have anything to do with taxes, right?