DATA: RECESSION Has Legs

WebToday ^ | 8-10-10 | WebToday

[geraldmcg]

New Studies Find Growth, Jobs Are Off the Radar

Make that marathon legs.

As the market analysts boot up their projection software, Excel documents, abacuses and whatever else they use to make an economic forecast, the road to recovery from the worst recession since the Great Depression is shaping up to be awfully long.

Bob Beauprez (R) is a former Congressman from Colorado, now political commentator, who has been watching developments—from Wall Street to Main Street to Pennsylvania Avenue—with a brand of frustration no doubt on par with your audience.

At the same time two University of California at Davis economists were publishing a report reasoning why odds are heavily in favor of another recession setback within the next two years, Beauprez was posting his own sobering news on his blog. (Links to both are below.)

Complete with a chart that spells it all out, Beauprez’s post demonstrates why we can’t expect a full job recovery to pre-2008-recession levels any sooner than 2017.

“On the advice of Henry Paulsen, Tim Geithner and Ben Bernanke, President Bush mistakenly started us down the path of trying to spend our way out of this recession,” says Beauprez, a Republican pulling no punches.

“(But, now,) Obama’s policies have put spending on steroids. The latest projections from the White House are for his first three budgets to each exceed $1.4 trillion in deficit spending. And Congress is planning to pour more gas on the fire with yet another bailout bill next week. We’ve had three years of this madness—enough!”

[ClearCase_guy]

This is our recovery so far. Some folks worry about a "double dip" but I don't think that's what I'd call it.

[grey_whiskers]

Courtesy *PING* (title resembles your handle ...)

[Cindy]

“Are You Looking For A Job?”
http://www.freerepublic.com/focus/chat/2525821/posts

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