That’s just the news Obama was waiting for. Now his Cloward-Piven strategy is finally going to work.
"Stimulus" only occurs when you take money away from the people who earned it and give it to people who didn't.
Lose the tax increases, keep the spending cuts.
How likely is it that a defeated Democrat majority Senate will approve that action?
And, if they do, will a defeated Democrat President sign it?
The nation's economy is thus left to the tender mercies of a bunch of defeated Democrats. What are the odds that they will do the right thing?
“CBO projected that the economy would contract by 1.3 percent in the first half of 2013, which would meet the traditional definition of a recession, which is when the economy shrinks for two consecutive quarters.
“Such a contraction in output in the first half of 2013 would probably be judged to be a recession,” CBO said.”
Then NBER, which actually announces recessions, says it is not bound by that definition. The last time it declared that a recession had begun in Dec. 2007, but we had 3.5% growth between Dec. and August, 2008. Of course, that is when a Republican was President. I’m sure they would not do that if a Dem were in the White House. So whether they declare this to be a recession will probably depend on whether there is a Democrat or a Republican in the White House.