Jan 22, 2008

White House may agree to go above $150 billion in economic aid

“We are not forecasting a recession,” Perino said. “Clearly there is a slowdown.”
This is the understatement of the year.
Not forecasting a recession? We are in a recession.
The administration’s initial efforts also failed to reassure global stock markets, which plunged Monday on rising fears that trouble in the U.S. economy could translate into weaker economic activity worldwide.

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