Double dipping danger
November 18th, 2009By Jerry Steinley
We’ll have to watch for more news and analysis on this topic but, I had to read it twice. The president on Fox? I don’t believe it! No, seriously, the AP reports that Obama told Fox News during an interview that the nation could face a double dip recession if it overspends and, this part I love — 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.” Heck, lots of folks lost confidence some time ago.
So is the president letting the country know the gravy train has stopped or, worse, letting us know round two is on the way?
Here’s the brief. More to follow.
This from the Associated Press:
BEIJING — President Barack Obama says he’s worried that spending too much money to help revive the economy could undermine a fragile U.S. recovery and throw the economy into a double-dip recession.
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.”

Former Sen. Bob Kerrey - once from Nebraska, now from New York - at a media event during a campaign stop for Democrat Scott Heidepriem.



