Do you think we will hit a recession this year?

Question

The mortgage crises...people arent spending as much? what do you think? i know that recessions and depressions are good but dont you ever worry about it? Like losing your job because of it? Spending less and less? I always do.

Answer 1

I assume you mean 2008. Everyone including the white House agrees that the economy will slow down. Whether the growth rate will actually be negative, which would make it an official recession, can not be predicted accurately. but .1% growth feels almost as bad as an official recession. Jobs will be harder to get and the unemployment rate will rise.