SHOOT: Personally I believe a double-dip even triple-dip recession is inevitable. We used debt to borrow our way out of the last crisis, and we didn't rescue or resuscitate anything worth saving. Banks and autos aren'tgoing to doany better in the future. Those investment sought to have gone into Alt. energy, railways etc. This is how we learn. Very very slowly.
BEIJING, Nov 18 (Reuters) - President Barack Obama gave his
sternest warning yet about the need to contain rising U.S.
deficits, saying on Wednesday that if government debt were to
pile up too much, it could lead to a double-dip recession.
His administration was considering ways to accelerate
economic growth, with tax measures among the options to give
companies incentives to hire, Obama said in the interview with
Fox conducted in Beijing during his nine-day trip to Asia.
"It is important though to recognize if we keep on adding
to the debt, even in the midst of this recovery, that at some
point, people could lose confidence in the U.S. economy in a
way that could actually lead to a double-dip recession," he
said.
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clipped from www.reuters.com
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