Page 2 - Fiscal Contraction News Today : Breaking News, Live Updates & Top Stories | Vimarsana

But they did in this case because it's such a huge fiscal contraction to all take in one year. so if we go over and stay over, we'll return to recession. and that means that the gains that we've been making on the unemployment rate, too slow, mind you, but gains that have been pushing the rate in the right direction would reverse. and if we stay over the cliff, the unemployment rate could go up as high as 9% by the end of next year. this would be a disaster for people who are still struggling with the residual of the great recession. if you look at middle incomes or paychecks, people are still...

Coming up. we also have expiration of unemployment insurance benefits. so what we have basically is a contraction, a fiscal contraction of $600 billion, which is basically like taking $2,000 per person of the united states out of their pockets and asking them to hand it back to the government and asking them to do it within the first four months of the year, most of this stuff will come due in april. if i ask them to hand me $2,000 tomorrow they're going to have to immediately curtail their spending. if they immediately curtail their spending, they're not going to the coffee shops and buying c...

Sounding, we're not that great. 1.8% print is not good. any way you look at it. >> what country looks better than us, including the stakt right now. >> i don't know, maybe chinese looks good right now. growing at 8%, hey, i would like-- >> the stock market tanked and huge inflation problems and some bureaucracy there. i don't think they're looking better than america right now. >> we're not having is right now. >> mike, what do you think of the growth? >> i can't think of any pop star lead in as compared to gary b. but, however, he's probably prepared for that for three days in advance, but li...

Latest updates on this topic from reliable sources.

In the months ahead. do you have any hope that something can be done in the near term? what's your whole take on this payroll tax back and forth? >> not very much hope. first of all, i guess we should all thank heaven that we got the payroll tax continuation because otherwise that was going to be a heavy fiscal contraction. >> that's only two month, right? >> it's crazy. >> i'm assuming we'll get the other ten. that's a political assumption. >> right. >> you're quite right. >> if it's only two months, who cares. i'm assuming that it's going to be for the year so we'll not get that contraction....