The current administration continues to cling to its rhetoric that its economic policy of spending and borrowing is just what the doctor ordered. Really?
The U.S. economic recovery will remain slow deep into next year, held back by shoppers reluctant to spend and employers hesitant to hire, according to an Associated Press survey of leading economists.
The latest quarterly AP Economy Survey shows economists have turned gloomier in the past three months. They foresee weaker growth and higher unemployment than they did before. As a result, the economists think the Federal Reserve will keep interest rates near zero until at least next spring.
Next up in the administration’s “recovery” plan: tax hikes on the very people who create jobs and account for a big chunk of consumer spending.
Fasten your seat belts.
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