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Who do y'all think will save America's Economy?

atomikmom 2012/08/23 01:42:18
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Write y S&P;: Risk of Double-Dip Recession Rises as Economy Has 'Downshifted Sharply'

Wednesday, 22 Aug 2012 10:11 AM

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The odds the United States will slip back into recession next year have risen, ratings agency Standard & Poor’s said, citing risks from the European debt crisis and budget tightening at year-end.

The ratings firm raised the chance of the United States falling into recession to 25 percent, up from a 20 percent chance estimated in February, as the world’s largest economy struggles to recover from a severe 2008-2009 slump.

It also pointed to the looming possibility of the government being forced by existing law to severely cut spending and increase taxes on January 1, the so-called fiscal cliff that would crunch the economy.

Editor's Note: The Final Turning Predicted for America. See Proof.
“Economic activity has downshifted sharply from earlier this year,” S&P; said in a report on North American credit conditions amid global uncertainty, dated August 20.

“At the same time, possible contagion from the European debt crisis, the potential so-called ‘fiscal cliff,’ and the risk of a hard landing for China’s economy have added greater uncertainty to U.S. economic prospects,” it said.

In the second quarter, the world’s largest economy grew at a 1.5 percent annual rate, a sharp slowdown from late last year as unemployment remained stuck above 8.0 percent.

S&P; underscored concern about the impact of a recession in the 17-nation eurozone, whose economy contracted 0.2 percent in the second quarter. S&P; forecast a 0.6 percent contraction this year.

“A double-dip recession in Europe that transmits financial turmoil to the U.S. could push it into recession,” the agency said.

However, S&P; said its baseline scenario for the U.S. economy — remained “modest growth,” projecting a gross domestic product expansion of about 2.1 percent for this year.

S&P; also said it expected that politicians would agree before year-end to change the current severe budget cut and tax hike mandates to avoid the fiscal cliff fate.

However, it said, “We do not believe the US and European economies will improve substantially in the next year.”

Editor's Note: The Final Turning Predicted for America. See Proof.our opinion here...

Read More: http://www.moneynews.com

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Top Opinion

  • Savior 2012/08/23 01:51:26
    Undecided
    Savior
    +4
    None of the above, both have been a big detriment to our economy, with their plans of big government takeover.

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Opinions

  • endthefed.soundmoney 2012/08/24 04:36:27
    Undecided
    endthefed.soundmoney
    Only Ron Paul, but I guess most don`t care!
  • boss hawg 2012/08/24 01:48:49
    Undecided
    boss hawg
    buying american products. creating "good" paying jobs. not walmart and mcdonalds jobs. taxing foreign made products heavily. blah blah blah
  • Joe Shwingding BN-ZERO 2012/08/23 15:34:39
    Undecided
    Joe Shwingding BN-ZERO
    +1
    neither one of the major parties
  • Cthulhu 2012/08/23 14:54:38
    Undecided
    Cthulhu
    We have a hundred thousand monkeys typing on a hundred thousand keyboards who should have the answer in no time. ;-p
  • Cthulhu Cthulhu 2012/08/23 14:56:47
    Cthulhu
    Or this ...

    Debts that can’t be paid, won’t be
    http://michael-hudson.com/201...

    Scenarios for Recovery: How to Write Down the Debts and Restructure the Financial System (PDF format)
    http://ineteconomics.org/site...
  • Katfish 2012/08/23 13:13:42
    Undecided
    Katfish
    Some republicans are good but Libertarians and Constitution party people are a million times better.
  • JMCC 2012/08/23 08:53:53
    Undecided
    JMCC
    +1
    Only a systemic change combined with an attitude and paradigm shift could prevent economic collapse...
  • Cthulhu JMCC 2012/08/23 14:56:26
    Cthulhu
    +1
    Something along these lines of thought ...

    Debts that can’t be paid, won’t be
    http://michael-hudson.com/201...

    Scenarios for Recovery: How to Write Down the Debts and Restructure the Financial System (PDF format)
    http://ineteconomics.org/site...
  • Savior 2012/08/23 01:51:26
    Undecided
    Savior
    +4
    None of the above, both have been a big detriment to our economy, with their plans of big government takeover.
  • atomikmom Savior 2012/08/23 01:56:29
    atomikmom
    +2
    Just exactly what i think!!!!
  • atomikmom 2012/08/23 01:44:52
    Undecided
    atomikmom
    +1
    To tell y'all the honest truth, neither one has our Economy as their best interest, they both like to spend and cut, to their own likes and dislikes, so our Economy is still a sinking Ship, and always will be until something changes.
  • Aurora 2012/08/23 01:43:31
    Republicans
    Aurora
    +2
    I think it will be Ron Paul and his Paul Bots, NOT. Romney Ryan 2012.
  • atomikmom Aurora 2012/08/23 01:45:45
    atomikmom
    Do you thinks so?
  • Aurora atomikmom 2012/08/23 01:47:11
    Aurora
    +1
    Yes I thinks it will be Romney Ryan, I have lived through the Obamaville years and cannot afford 4 more years.

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