Economic data has been pointing to a recession for months and alarm bells should be ringing in Washington. As with most challenges facing the nation, the political parties have vastly different strategies for blunting the impact of a recession and getting the country back to robust growth.
A recession is commonly defined as two consecutive quarters of negative economic growth. The first three months of this year saw the economy contract 1.6% and the second quarter will very likely be negative as well. This is not at all surprising, given the four-decade high inflation caused by the government’s excessive spending, borrowing and printing of money.
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