No Recession According to Treasury and Fed Heads
CNNMoney.com reports that Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke both acknowledged problems with the U.S. economy but that the recent series of interest rate cuts and the forthcoming economic-stimulus tax rebates will keep the economy out of a recession this year.
We can only hope.
I am very annoyed to hear this rhetoric coming from the hill. Today, Bush actually had the audacity to claim that we weren’t in a recession…nevermind the fact that both gas and food prices are rising faster than they have in a decade and last month there were more jobs lost since the 70’s. Never mind the sinking dollar worldwide.
I am not a doom and gloom kind of person but it makes me angry to think that Washington tries to sweep things under the rug and pretend that there isn’t a problem.
Comment by Leo Dimilo — February 28, 2008 @ 9:44 am