Because what's good for America...The recovery is shaping up to be stronger than expected and there is little risk the economy will slip back into a recession, according to USA TODAY's quarterly survey of 46 leading economists.Is bad for Limbaugh Republicans.
Yet most still say the rebound will fall short of the sharp, V-shaped upturns that often follow severe slumps, and the 9.7% jobless rate will fall slowly.
As the Fed meets to assess the economy this week, seven in 10 economists say they're more optimistic than they were three months ago.
"I think we've gotten to a point where it's a self-sustaining recovery," says Standard & Poor's chief economist David Wyss.
The experts predict growth of 3% this year, up from forecasts of 2.8% in January. In V-shaped upswings, growth is often 7% or more.
None see a return to recession by next year, and those who see some risk say it's lessened markedly.
"I feel more confident ... there'll be no relapse," says Stuart Hoffman, chief economist of PNC Financial Services Group.
-via Bark Bark Woof Woof
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1 comment:
Shhh..don't let this news reach the tea party...you know those poverty-lovers who go around carrying signs that say:
*Unemployment is awesome!*
*I love negative GDP!*
*Jobs Suck!*
*Welfare and Unemployment is Cool, Man!*
*Bring on another Great Depression!*
I mean, I haven't actually seen those people, but Olberman and Rick tell me they're out there, so they must be. I hate them, they're racists.
[State direction: Cue Rick's sidekick Mustang Bobby with snarky retort]
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