From The New York Times:
It has been three decades since the United States suffered a recession that followed on the heels of the previous one. But it could be happening again. The unrelenting negative economic news of the past two weeks has painted a picture of a United States economy that fell further and recovered less than we had thought.
I said last year that we would hit a double dip in the second half of this year. Looks like I was right…
And we will get hit with a double whammy. The 7 trillion dollars in new debt and the downgrade of our credit rating. The White House is preparing for it. Looks like Obama will get his tax increase after all. A drop in the bond rating is the same as a tax increase for all Americans. Obama said so…
So now we can all pin the tax increase on Obama.
Cave Canem!
Never surrender, never submit.
[tip]If you enjoy what you read consider signing up to receive email notification of new posts. There are several options in the sidebar and I am sure you can find one that suits you. If you prefer, consider adding this site to your favorite feed reader. If you receive emails and wish to stop them follow the instructions included in the email.[/tip]