Feldstein Sees 'Significant' Risk of Double Dip

Monday, 29 Mar 2010 09:02 AM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Economist Martin Feldstein says the U.S. is at risk of a double dip recession.

“I think it’s a significant risk,” Feldstein says. “If you look at the most recent numbers, things are not so good.”

Manufacturing is down, Feldstein notes, are as both commercial and residential real estate construction, U.S. exports and state and local government spending.

“When you look ahead, the consumer is going to have a very hard time providing the kind of lift to aggregate demand that’s needed,” he told Bloomberg.

President Barack Obama, he says, spent so much of his time selling his administration’s healthcare plan to Congress that he’s ignored creating jobs, increasing aggregate demand, dealing with the fiscal deficits and the problem of our local banks and business credit.

“All of those things are major things which have basically been neglected while he focused on this health care legislation,” Feldstein says.

“It’s almost as if he didn’t know we had a deep recession.”

Even though its advocates claim Obamacare will pay for itself, Feldstein says it will undoubtedly force taxes much higher, creating even more economic stress.

Treasury Secretary Timothy Geithner said the U.S. economy is starting to expand after its worst slump since the Great Depression, Business Week reports.

“As the economy continues to grow, and as we continue to repair the damage, the economy will start creating jobs again,” Geithner said.

“One of the most important things the government can do to help us dig out of this mess is to promote a strong, dynamic private sector.”



© 2014 Moneynews. 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
You May Also Like

The Heroic Nuns the Times' Nicholas Kristof Failed to Mention

Friday, 22 Aug 2014 11:34 AM

When Nicholas Kristof praised religious sisters recently, he missed a whole category of great nuns , those whose fidelit . . .

Ex-Va. Governor: CEO's Loan Was Not Inappropriate

Friday, 22 Aug 2014 11:33 AM

RICHMOND, Va. (AP) - Former Virginia Gov. Bob McDonnell said Friday that he did not think it was inappropriate to take a . . .

Township Vote to Rename Building After Obama Sparks Controversy

Friday, 22 Aug 2014 11:21 AM

A vote earlier this month by the township council in Willingboro, New Jersey, to rename a recreation center after Presid . . .

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