Tags: Bob | Woodward | recession

Bob Woodward: US Is on Verge of Another Recession

Sunday, 30 Sep 2012 01:46 PM

By Amy Woods

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Newspaper editor and book author Bob Woodward appeared Sunday on CBS’ “Face the Nation” and said the U.S. economy is in shambles, and the country is on the verge of another recession.

Woodward, whose latest tome is titled “The Price of Politics,” participated in a panel discussion of the same topics that will be addressed during Wednesday’s presidential debate.

“This is off the charts,” he said of the economy. “We have conservative and liberals and both parties in a game of brinkmanship for the last three-and-a-half years, not solving the problems.

Urgent Poll: Romney or Obama to Handle Foreign Crisis? Vote Here!

“I’m really not overstating this . . . This government is going to have to go into the debt market beginning of next year and ask to borrow another trillion or two [trillion] dollars.”

Woodward was referring to the automatic budget cuts — which he also described as automatic tax increases — that are scheduled to hit early next year.

“If these things happen, you’re going to have a government-created recession,” he said.

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Joan Rivers 'Resting Comfortably' in Stable but Critical Condition

Friday, 29 Aug 2014 07:38 AM

Joan Rivers is "resting comfortably" at a New York hospital after the comedy legend stopped breathing during a routine m . . .

Jet Fuel Crunch Strikes New York Airports Before Holiday

Friday, 29 Aug 2014 06:51 AM

The lowest seasonal supply of jet fuel on record is pushing prices higher and leading to voluntary restrictions in the N . . .

Shelly Sterling: 'I Just Did What I Had To Do'

Friday, 29 Aug 2014 06:44 AM

When Shelly Sterling was approached by former Microsoft CEO Steve Ballmer about buying the Los Angeles Clippers, the wif . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved