Economists up the probability on a "mild depression"
Saturday, February 28, 2009 at 10:46AM 
I'm a day late on this story, but if you weren't depressed enough over the economy ... let my friend Peter Goodman of the New York Times take you to an even darker place.
Some economists are now upping the odds of a "mild depression" -- whatever that means -- from 10% probability to a 20% probability. The net result: economic growth could be forestalled until 2011.
If that's the case, it would mean that millions of more Americans will face unemployment, and housing and stock prices will continue to plummet. In the administration's budget, their deficit forecasts are predicated on 3% growth in 2010 and 4% growth in 2011. If we don't see that type of growth -- and it chances are we won't -- it could blow a hole in the president's plan to cut the deficit in half. And it could blow a hole in his re-election chances.
Reader Comments (6)
obama and his team will clean up the mess that was left from the previous administration.
in other related news - michelle obama called the truth to ask for her dress back
Spending trillions of dollars with nothing to show for it will hardly constitute cleaning up the mess ... this is his economy now.
trust me. things will work for the best.
aren't you the same mitch who predicted that the cubs would win 5 world series in a row, and that the New Kids on the Block reunino tour would be "bigger than jesus"?
u got me there, brother...clearly, i have zero steet cred
<h1>replica designer bags</h1> Affordable bags
<h1>replica designer handbags</h1> Come ah
<h1>air max 2012</h1> Favorites
<h1>nike shox turbo</h1> Discounts and more
<h1>men puma shoes</h1> Online Sales
<h1>air max 90</h1> Wholesale sales
<h1>wholesale puma shoes</h1> Wholesale sales
<h1>puma shoes sale</h1> Look comfortable
<h1>timberland mens boots</h1> Buy comfortable
<h1>gucci women shoes</h1> You are wrong?
<h1>louis vuitton outlet</h1> There must you like