Tags: chamber | double | dip | recession

U.S. Chamber Warns of Double-Dip Recession

By    |   Wednesday, 13 Jan 2010 09:19 AM

The U.S. Chamber of Commerce warns that the United States economy faces a "double-dip" recession thanks to taxes and regulations on business imposed by the Congress and the Obama White House.

In an interview with CNBC, Donohue said "uncertainty" over the potential expiration Bush tax cuts and other tax increases in legislation such as the healthcare bill is hurting employment by delaying hiring.

The U.S. lost 85,000 jobs in the latest monthly unemployment report, 10 times more than economists had predicted. The jobless rate is stuck at 10 percent and analysts have warned that double-digit jobless rates could stick around for many months more.

"If we have massive tax increases, if we have significant taxes, regulatory increases, limits on capital availability, all because of things that are working their way through Congress, you could have a double-dip recession or worse," Donohue told the cable network.

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The U.S. Chamber of Commerce warns that the United States economy faces a double-dip recession thanks to taxes and regulations on business imposed by the Congress and the Obama White House. In an interview with CNBC, Donohue said uncertainty over the potential...
chamber,double,dip,recession
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2010-19-13
Wednesday, 13 Jan 2010 09:19 AM
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