Soros: US Is Already in Double-Dip Recession - CNBC

[WillyT]

Soros: US Is Already in Double-Dip Recession
Published: Thursday, 22 Sep 2011 | 1:51 AM ET
Reporting by Maria Bartiromo, Writing by Antonya Allen, CNBC.com

<snip>

Billionaire investor George Soros said he believed the United States was already experiencing the pain of a double dip recession and that Republican opposition to Obama's fiscal stimulus plans was to blame for sluggish growth.

Asked by CNBC if he believed the US risks falling into a double-dip recession , Soror said: "I think we are in it already."

"We have a slowdown and basically a conflict about whether the rich ought to pay taxes to create jobs or not and there was a deal in the making which would have balanced the budget over the long term, but would have allowed short-term fiscal stimulus, which would have been the right policy," Soros said in an interview late Wednesday.

"That was rejected, it fell apart… so it will come to the electorate next year to decide what they want," he added.

<snip>

More: http://www.cnbc.com/id/44621082

:shrug:

[xchrom]

1. Recommend

[obxhead]

2. It's not a double dip.

We never pulled out of the first "dip."

[Bluebear]

3. !