NewsFlash: May 11, 2007
With a low first-quarter GDP of 1.3% (and likely to be revised down), lousy April job growth numbers, and now lagging retail sales, our economy could be headed to the dreaded word many are trying to ignore: Recession. In a commentary originally posted on TPM Café, EPI senior economist Jared Bernstein discusses our economic woes, while examining the implications of a possible recession on tax policy and the presidential campaign trail.
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