the economy is slipping toward recession.” Mr. Fratto states: " I don't know of anyone predicting a recession". Well Mr. Fratto, here's a few for you:Mark Zandi, chief economist of Moody’s Economy.com:
“This is unambiguously negative…The economy is on the edge of recession, if we’re not already engulfed in one.” [1/5/08]
Neal Soss, chief economist at Credit Suisse Group, Inc.:
“There’s nothing heartwarming about this report…It confirms what economists have been worried about, which is a broad-based economic slowdown.” [1/5/08]
Russ Koesterich, senior fund manager at Barclays Global Investors:
“The odds of a recession have gone up dramatically.” [1/5/08]
Nigel Gault, economist at Global Insight:
“If there’s going to be a recession, it’s entirely possible that we are in it — or just beginning it now.” [1/4/07]
Victor Shum, energy analyst with Purvin & Gertz:
“Many economists in the
he odds now favour a
National Association for Business Economics survey: “The number of economists forecasting the
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]
Also, Our House Speaker has a few words for your spew of lies as well. Thanks to The Gavel for this contribution.Washington, D.C. – Speaker Nancy Pelosi issued the following statement today in response to a speech by President Bush today on the economy. Below her statement is a fact sheet with quotes from economic experts on the state of the economy:
“Democrats want to work in a bipartisan way with the President to stimulate the economy, restore consumer confidence, and strengthen the middle class. But in his speech today, President Bush made clear he wants to maintain the status quo, one that experts from across the political spectrum agree has failed millions of America’s working families. I hope that the President will reconsider this course and join us in our bipartisan efforts to address our nation’s economic security.
“The economy needs a new direction that empowers the middle class and those affected by the economic slowdown. We will continue our bipartisan efforts to address the subprime mortgage crisis, provide middle-class tax relief, increase access to health care, raise confidence by bolstering consumer safety, reduce energy costs and spur innovation and increase America’s competitiveness. We will propose pro-middle-class, pro-growth, and pro-job creation initiatives that ensure our economy works for all Americans, not just the privileged few.
“In early December, the House Democratic leadership met with top leaders in the financial community to discuss the state of the economy. The New Direction Congress is determined to take measures that will provide a new direction for our economic security today and for our children in the future.”
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