A panel of economists today reports that the American economy faces the growing risk of falling back into recession.
Consumers have slowed their spending, businesses have slowed their spending, and the federal government has just signed a deal to slow its spending. If you add those up, you get stagnation and maybe even recession. "Who is going to drive the economy?" one analyst asks, in the New York Times.
Last night on the show, Congressman Peter Welch (D-Vermont) said the government has to step in.
The Democrats have to concentrate constantly, repetitively, consistently, on jobs -- jobs that we can create by rebuilding our infrastructure. It's a disgrace what's going on with our roads and bridges. Building and deploying broadband;, having an energy policy that takes advantage of the opportunities to move to a clean post-carbon-energy economy. And we have to rebuild in our cities and towns our sewer and water systems.These are things that will put people to work. They are visible in the community, and they have a lifetime, a generational return. These are all things that we can do.You know, we have to step back as a country and as a party and say if we have confidence in ourselves and in our future, we're going to invest in our future and we`re going to do what it takes to put America back to work.We are about the American Dream. We have work to do.
Also today, the FAA shutdown that Congress has left on hold while it's in recess has left many thousands of out of work and airport inspectors continuing at their own expense for as long as they will.