[R]ecessions caused by financial crises linger longer because of the shattered confidence of both consumers and businesses. [The Congressional Budget Office] went on to state, "In addition, under current law, both the waning of fiscal stimulus and the scheduled increases in taxes will temporarily subtract from growth, especially in 2011."
Saturday, August 21, 2010
Hey Rahm, About Those Tax Cuts...
In a Washington Post comparison of the Carter-Reagan and Bush-Obama recessions, we learn why some experts think Obama's 2012 economy might not look as rosy as Reagan's in 1984: