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| Economy |
| White House: U.S. at risk of double-dip recession |
| 2010-12-10 |
| (KUNA) -- White House economic adviser Larry Summers warned Wednesday that failure to pass a hotly debated new tax cut through Congress "would significantly increase the risk" of a double-dip recession in the U.S. At an off-camera press briefing this afternoon, National Economic Council director Summers and other White House officials made case for the controversial deal President Barack B.O.Obama struck with Republicans, which has proven among Democrats in particular. "If this process were to break down and a bill were not passed," Summers said, not only would economic projections recently revised upwards not happen, "downward revisions would commence." Summers says he thinks Congress will pass the two-year extension of tax cuts for the rich as well as the middle class. He added that he does not think that Congress would take a step that "materially increases the risk that this economy will stall out." That's what he says could happen if Congress fails to act. Summers says positive reviews coming in from economists show the deal is the right thing to do |
| Posted by:Fred |
| #15 To those who say 'Is Palin the best you can come up with..', it appears the Clintons are the best they can come up with. So, how's that 'anyone but Clinton' crowd in Donkland feeling now? /heh All together now... |
| Posted by: Procopius2k 2010-12-10 20:49 |
| #14 Obama One-Term Con-Jobby? |
| Posted by: Bright Pebbles 2010-12-10 19:33 |
| #13 I liked one of the comments:, "Help me Bubba-Wan. You're my only hope". |
| Posted by: Deacon Blues 2010-12-10 18:50 |
| #12 #11 What had he and Bill been discussing? How lovely and pleasant their wives are? naaaaaahhhhh.... |
| Posted by: Frank G 2010-12-10 18:43 |
| #11 What had he and Bill been discussing? His position in the next Clinton administration? Cause he sure is looking like one 'n done. |
| Posted by: Nimble Spemble 2010-12-10 18:27 |
| #10 drudgereport.com and has an article about how Obummer just turned a White House press briefing over to Bubba Clinton. Bubba expounded on the need for the tax cuts while the bummer walked out, saying he had to go to a party. Walked out and left Bubba at the podium! What was it that Truman said..."If you can't take the heat, call Bubba?" |
| Posted by: Ebbang Uluque6305 2010-12-10 18:16 |
| #9 I guess this means the 4-6 million new (or saved) Obama Administration jobs are not arriving anytime soon? |
| Posted by: Besoeker 2010-12-10 17:09 |
| #8 However, there has been NO recovery I guess they are using the term "double-dip recession" because it sounds better than using the term "being only halfway through this recession". And yes, in case you've been living under a rock (i.e.: in the WH), those "recovery" indicators they've been touting are total crap. |
| Posted by: gorb 2010-12-10 12:42 |
| #7 Obullshit's at the "Write three letters" Stage of his "Reign". |
| Posted by: Redneck Jim 2010-12-10 11:08 |
| #6 A double-dip recession refers to a recession followed by a short-lived recovery, followed by another recession. However, there has been NO recovery, just flim-flam, stimulus spending to give the impression of a recovery. We have been in the Great Recession since 2007 or so. |
| Posted by: Anguper Hupomosing9418 2010-12-10 10:13 |
| #5 Summers wouldn't say it without Obean's approval. And even if the Dems can't tax, that doesn't mean they can't continue to spend. Which they will until stopped. |
| Posted by: gorb 2010-12-10 10:07 |
| #4 Summers says positive reviews coming in from economists show the deal is the right thing to do Posted by:Fred Are these the same "economists" who gave us the stimulus in all it's many and productive forms?? |
| Posted by: WolfDog 2010-12-10 10:07 |
| #3 ...who's existence is predicated upon 'tax and spend'. |
| Posted by: Procopius2k 2010-12-10 07:36 |
| #2 This is Summers not Obama. Still, the admission that reducing taxes is good for the economy is a major problem for the Left. |
| Posted by: Lord Garth 2010-12-10 04:48 |
| #1 Looks like he's outgrown his "Blame W" days. |
| Posted by: gorb 2010-12-10 01:21 |