A Double Dip is not that remote.
There are Structural problems like a growing wall of debt that try as you might cannot all be blamed on The Democrats if you are of the other persuasion or on the Repugs if you stand with the Donkeys.
It's a system thing, a cancer that is eating away at the economy. The Financial Times reported Wednesday night, à ‚¬Å"US President Barrack Obama warned that the US economy could head into a "double-dip recession" unless urgent steps were taken to rein in mounting public debt.
Obama told Fox Newsà ‚¬"I guess they are talking again-- à ‚¬Å"That's when the economy begins to recover briefly from a recession only to be dragged back under. Obama told Fox News in an interview Wednesday that his administration is weighing tax breaks that could encourage businesses to begin hiring again.
But he added that it's important to recognize that if the nation keeps adding to deficit spending through tax cuts or more stimulus spending, at some point people could lose confidence in the U.S. economy and that could "lead to a double-dip recession."
What are the chances that can happen?
Quiet as its kept, the odds are pretty good.
Can a Congress addicted to financing from lobbyists and compromise and collusion do what needs to be done? The financial industry has 6 lobbyists playing every Congressman. (My new book, THE CRIME OF OUR TIME offers the details)
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