Where is your Candidate on the Economy re: Possible Recession

[Alamom]

http://www.reuters.com/article/politicsNews/idUSN0621817820080108?pageNumber=1


White House disagrees with Clinton on economy
Mon Jan 7, 2008 7:10pm



By Jeremy Pelofsky

CHICAGO (Reuters) - The White House on Monday acknowledged the U.S. economy had hit a rough patch but disagreed with Democratic presidential contender Hillary Clinton's prediction that a recession was looming.

"I don't know of anyone predicting a recession," White House spokesman Tony Fratto told reporters as President George W. Bush traveled to Chicago for events focusing on education and the economy.

Fratto described the economic picture as mixed as he acknowledged concerns about the housing sector and oil prices but said inflation was relatively low and exports were rising.

Clinton, seeking to become the first woman president, raised worries about the economy during a weekend debate in New Hampshire before that state's primary contest on Tuesday.

"I think the economy is slipping toward recession," said Clinton.


http://thinkprogress.org/2008/01/07/fratto-recession/

White House Spokesman: No One Is ‘ Predicting A Recession ’


Today aboard Air Force One, a reporter asked presidential spokesman Tony Fratto if the Bush administration was at all worried about a recession, given that on Friday, Sen. Hillary Clinton said she “thinks the economy is slipping toward recession.” Fratto brushed aside such concerns:

QUESTION: Senator Clinton said on Saturday that the U.S. economy was slipping towards a recession. Is that a view the White House shares; why or why not?

FRATTO: I don’t know of anyone predicting a recession.

Fratto clearly hasn’t been reading the news. Several of the nation’s leading economists continue to predict that the United States will slip into a recession:

Harvard University economist Martin Feldstein: We are now talking about more likely than not. … I have been saying about 50 percent. This now pushes it up a bit above that.” <1/5/08>

Lawrence Summers: “he odds now favour a US recession that slows growth significantly on a global basis. Without stronger policy responses than have been observed to date, moreover, there is the risk that the adverse impacts will be felt for the rest of this decade and beyond.” 11/25/07

National Association for Business Economics survey: “The number of economists forecasting the U.S. will slip into recession almost doubled over the last two months.” 11/19/08

Warren Buffett: “If I had to pick the chances that we are going into a recession, I would say they are fairly significant.” 10/29/07

CBO Director Peter Orszag: “The risk of a recession is clearly elevated.” 9/18/07


The entire concept of “recessions” and “predictions” may be out of reach for the spokesman to a president who only “got a B in Econ 101.”




& on that note,

Everyone here who has lived through one, raise your hand. Tell us about it.



I have. Not fun, not cool, not easy.

[Alamom]

1. ******crickets*********nm

[Mojorabbit]

2. I have read articles up the ying yang

about how we are on the brink of recession and today in lbn is this article.
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3129013
BBC Recession in the US 'has arrived'
I am glad if it had to happen that it is happening on Bush's watch.

[no name no slogan]

3. Mine is in favor of it

no, wait

[laureloak]

4. I was wondering if Obama has any financial acumen at all.

After all, I read here on DU that he was broke 7 years ago.

[ozone_man]

5. This should help Edwards and Clinton.

Clinton, while not being able to use Bill's experience with the economy directly will be seen as knowledgeable with economic issues, and who could disagree that teh economy was better in the 90's? Unfortunately, some of the programs Bill Clinton passed like NAFTA and WTO are partially responsible for our present conditions.

Edwards' key is fighting corporate interests, which are mainly the cause of our recession. Corporate profits at the expense of the middle and working class. He is using public campaign matching funds, not the $100 million dollar campaigns that the other two have. When blame starts to fall on corporate America, he is best situated to reap the rewards.

Obama will not be seen as not having enough experience to handle a situation that could eclipse the 1929 depression. And we will need someone of FDR caliber who will lead us out of it.