The Democrats/media never got the recession they so dearly wanted during the Bush administration, but they still aren’t giving up. The AP is predicting today that the failure of the bailout bill is going to lead to a recession. Don’t believe a word of it. The economy will continue to grow as it always does. There will be no recession. Sorry, Democrats/media.
The fallout from the vote against a bailout package for the U.S. financial system may well be lasting pain for the economy.
The Houses stunning defeat of a $700 billion package urgently championed by President Bush, sent shock waves through Capitol Hill, the trading floors on Wall Street and the Oval Office on Monday.
“An economic 9/11,” warned Terry Connelly, dean of Golden Gate Universitys Ageno School of Business, of the potential fallout. As the package went down, panicked investors caused the Dow Jones industrials to nosedive nearly 780 points in their largest one-day point drop ever. Markets across Asia fell sharply Tuesday in the wake of the Wall Street downdraft.
Bailout bill defeat could cause painful recession – Yahoo News.
Michelle Malkin reports that overseas markets aren’t tanking nearly as bad today as the press is making them out to.
