It's making a comeback! USA Today:
The recovery is shaping up to be stronger than expected and there is little risk the economy will slip back into a recession, according to USA TODAY's quarterly survey of 46 leading economists.The bad news? It looks like we spent a boatload of money for nothing. Money/CNN: "The stimulus didn't help"
The recovery is picking up steam as employers boost payrolls, but economists think the government's stimulus package and jobs bill had little to do with the rebound, according to a survey released Monday.And now that we've added to this debt and failed to address entitlement spending, there's little chance of ever growing out of our long-term liabilities:
"We're not going to say we're going to grow our way out of this," said former Republican Senator Alan Simpson. "Hell, we could have double (-digit) growth for 30 years and never grow our way out of this."And make no mistake, the national debt is a problem that will not go away without political will from Washington. In other words: we're doomed.
The deficit was $1.4 trillion in 2009, nearly 10 percent of the overall economy, and it is expected to be that much again this year. Longer term, the retiring baby boom generation will strain the Social Security retirement and Medicare health program for the elderly, putting even more pressure on government spending.
Extra - From Gateway Pundit.