Why are people not spending money? According to an article published on CNNMoney.com job growth has not changed, housing economy is in a hole. All of this is signs of economy trouble, and with this many economist see us falling into a recession, this is according to the National Association of Business Economics. Over 45% of economists are now predicting that we will be in a recession this year.
The GDP this year will be at the weakest it has been in 5 years. All of these forecasts are in line with the forecasts from the Federal Reserve this past week. There are many things that this country is trying to do to get the economy back on track so that we can start to become a power country. I hope that this will get the country back on track and more money in the economy.
I got this information from CNNMoeny.com called “Recession more likely this year - survey
Business economists see growing evidence that the country has toppled into a recession” from http://money.cnn.com/2008/02/25/news/economy/economists_recession.ap/index.htm.
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