Obama's Double-Dip Recession Is Just Around The Corner

Another 1.6 million more jobs are destined to go straight down the tubes. That's in addition the jobs that would otherwise be lost in the natural course of the Obama Malaise and the jobs of the 12.4 million people who are still looking for work and can't find it. Amy Payne with Heritage.org, oblivious to the fact that we're still haven't recovered from the recession we're in now, warns that a full-blown recession is imminent if Barack Obama and Harry Reid keep stonewalling and allow what is being alternately called "Taxmageddon" or the "fiscal cliff" to hit us square between the eyes this coming New Year.

Quoting a Congressional Budget Office report, Payne says that "it’s not economic growth we should be worried about, because the economy will actually shrink next year. It will shrink by 0.5 percent, and the unemployment rate will spike to 9.1 percent."

But even if Taxmagedden is avoided, the picture still isn't. Payne says that even if we avoid falling off the fiscal cliff, "the CBO projects that the economy will grow only slightly next year, at an anemic 1.7 percent, and the unemployment rate will remain stuck around 8 percent." Read the Rest of the Story