Failure to Act Could Result in another Recession

Failure to Act Could Result in another Recession

Today, the Washington Post reported the Congressional Budget Office (CBO) released information saying the U.S. economy will “hurtle into a recession if Congress fails to avert a series of tax increase and budget cuts due in January…”  The CBO goes on to warn “that a fiscal impasse would have consequences even more dire than previously forecast.”

However, many believe that with the presidential election only a couple of months away, Congress will fail to act in time.  The CBO goes on to note this could result in the economy falling into another recession with unemployment rising to about 9.1 percent.

Read the full Washington Post article here.

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