Worst Spending Slump Since 1942 Extends ‘Scary’ U.S. Recession
The biggest slump in U.S. consumer spending since 1942 will extend the recession and push the jobless rate to the highest level in a quarter century, according to economists surveyed by Bloomberg News.
The government could fix the economy overnight by slashing taxes by 50%. But the one thing that would work is the one thing they will not do.