FT: White House insists recession unlikely (LMAOROTFLWTFLOLkillmenow)

[El Pinko]

http://www.ft.com/cms/s/0/3f974bb2-d8fb-11dc-8b22-0000779fd2ac,dwp_uuid=b8efc2ae-d98d-11dc-bd4d-0000779fd2ac.html?nclick_check=1

White House insists recession unlikely
By James Politi in New York
Published: February 12 2008 02:36 | Last updated: February 12 2008 02:36
The Bush administration on Monday stuck to its prediction that the US would not face a recession in 2008. It claimed the economy had a “solid foundation” to guide it through the housing crisis and would be helped by a $170bn fiscal stimulus package later this year.

Edward Lazear, chairman of the White House Council of Economic Advisers, which released its annual report to Congress on Monday, said: “I don’t think we are in a recession right now, and we are not forecasting a recession. We are forecasting slower growth.”

Mr Lazear’s remarks are at odds with the view held by many top economists that the US economy is already contracting, based on recent gloomy data on employment and business sentiment, as well as continuing woes in the mortgage industry.

The White House acknowledged that “challenges” and “economic uncertainty” would lead to slower growth, particularly in the first half.



If there is not a SEVERE recession this year and the next year, I'll eat a pair of Poppy's Depends. That's how certain I am.

[Ganja Ninja]

1. "I'll eat a pair of Poppy's Depends."

OK, Looks like I'll be skipping lunch today. :puke:

[blondeatlast]

2. Can we get this bunch of idjits a job at Big Lots for a month? Really.

Overseas they already are calling our economy in recession (my husband does lots of business outsidethe US).

I was a teen during the recession in the '70s and I remember several mild ones since then. This is the worst I've seen. When the people can see past the media spin--and they are--the time for pink glasses is over.

[bdamomma]

3. apparently they are spewing lies of course

if they keep repeating and repeating it no recession, you can catapult the propaganda.

these thugs are sickening.

[liberal N proud]

4. With blinders on you don't see these things

[NOLALady]

5. When will someone lock up these clowns?