Marathon Pundit: US Chamber warns of double-dip recession because of Dems' policies

Tuesday, January 12, 2010

US Chamber warns of double-dip recession because of Dems' policies

Oh...this is the same US Chamber of Commerce that the White House did not invite to last month's phony jobs summit.

From The Hill:

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.