U.S. Chamber warns of ‘double-dip’ recession because of Obama policies

U.S. Chamber warns of ‘double-dip’ recession because of Obama policies

January 13th, 2010

By Ian Swanson, The Hill

 The recession has gotten worse thanks to Obama

U.S. Chamber of Commerce President Tom Donohue warned the U.S. faces a double-dip recession because of the taxes and regulations under consideration by the Democratic Congress and President Barack Obama.

“Congress, the administration and states must recognize that our weak economy simply could not sustain all the new taxes, regulations and mandates now under consideration. It’s a sure-fire recipe for a double-dip recession, or worse,” Donohue said in a speech providing the Chamber’s outlook for 2010.

Donohue said the lawmakers should not let former President George W. Bush’s tax cuts expire at the end of year and lambasted Democratic efforts on healthcare and financial regulatory reform as well as climate change.

If the tax cuts are allowed to expire, “we will likely end up with even bigger deficits and greater economic misery,” Donohue said.

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