U.S. could slip into double-dip recession if Congress doesn't pass new stimulus, some economists say

[Yo_Mama_Been_Loggin]

The U.S. economy is at a crossroads, with some analysts saying a failure by Congress to pass another stimulus package, even as the COVID-19 pandemic continues to spread, would tip the nation back into recession.

Lawmakers remain deadlocked over a measure to provide another round of $1,200 checks to most households and more aid to struggling small businesses and unemployed Americans. Most saw the money they received from Congress’s $2.2 trillion CARES Act run dry over the summer.

“If they don’t” approve another stimulus, “they’re taking a huge risk, says Mark Zandi chief economist of Moody’s Analytics. “The odds are better than even the economy backslides.”

Some other economists believe the nation would dodge another downturn even without more assistance, which would further swell the staggering $26 trillion national debt.

https://www.yahoo.com/news/u-could-slip-double-dip-110104995.html

[czarjak]

1. Republicanism...

Nothing new.

[Wellstone ruled]

2. If one has been tracking anything

related to our Economy. We are there already. Inventories of new goods for sale are way out of line with daily and pending sales. Meaning,massive lay offs are heading down the pike.

Friday I noticed a Housing Start report for the Eastern States. Permits as well as starts suddenly took a turn South irrespective of tons of cheap money. Airlines are waiting for another Bailout of 25 billion or they will dump tens of thousands of employees on the States Unemployment systems(threat).

All it is going to take to push us off the cliff is,one State to shut down all Social Activity and it might happen within ten days or less.

[uponit7771]

4. THIS !!! Were still in the first recession held up by Dem Congress

[Wellstone ruled]

5. Recession started last October

and it has been only staved off by Trillions of Cash that made it's way into the 10 fang Stocks. Other than that action,most people have been have been feeling a accelerated decline in earned income which is being stretched to absorb Trumps Tariff's on Consumer Goods(Tax).

[uponit7771]

9. +1

[crickets]

3. Meanwhile, Mitch has had the HEROES Act on his desk since MAY. nt

[roamer65]

6. Double dip recession or a currency crisis.

Time to pick which poison.

[Wounded Bear]

7. Stim/relief won't happen until Feb...

Repubs won't allow it, and we'll have to take the Senate.

[TheFarseer]

8. They just want more goodies for Wall Street

I’m firmly against shooting a money cannon at the problem. If something well thought out could be crafted, I’d be in favor of it, but I won’t hold my breath for that.