Bank Of America: Congress Risks A Double-Dip With Silly Game Of Fiscal Chicken

ambrose evans pritchard

Ethan Harris, the bank’s chief North American economist, said early data for August suggest that “an already weak recovery is getting weaker” with a rising risk of a relapse into recession, yet the two parties seemed determined to outbid each other with austerity measures.

“Politicians are clamouring for quick action, not to stimulate a dangerously weak economy, but to bring down the budget deficit. We strongly support efforts to bring down the deficit, but only once the economy is on a healthy growth trajectory,” Mr Harris said.

Read the rest over at The Telegraph >

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