We Told Ya: Even Obama Warns of ‘Double-Dip Recession’ (You Aint Seen Nothing Yet…Wake Up People)
Speaking in the heart of America’s biggest lender, President Obama told Fox News in an interview Wednesday that the piling on of U.S. debt could drag the country into a “double-dip recession,” though he said he’s still considering additional tax incentives for businesses to reverse the rising unemployment rate.
The president, who is in China as part of his tour through several Asian countries where he is addressing economic challenges, spoke candidly about the precarious balancing act his administration is trying to perform with regard to the U.S. economy. He wants to spend money to kick-start the economy, but at the same time is in danger of creating too much red ink.
“There may be some tax provisions that can encourage businesses to hire sooner rather than sitting on the sidelines. So we’re taking a look at those,” Obama told Fox News’ Major Garrett. “I think it is important, though, to recognize if we keep on adding to the debt, even in the midst of this recovery, that at some point, people could lose confidence in the U.S. economy in a way that could actually lead to a double-dip recession.” Read more here.
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