If you thought the economy was starting to pick up and perhaps was even off to the races after months of positive GDP growth and much better than expected consumer health, Yahoo writes, think again. That's according to, Nouriel Roubini, professor of economics at New York University, who says the U.S. economy is destined for another recession in 2012 on account of partisan politics in Washington.
On Monday, after the bipartisan 12-member super committee announced its failure to agree upon $1.2 trillion in cuts over the next 10 years, Roubini, also known as Dr. Doom, tweeted the following: "Super-Committee: Super-Failure, Super-Pathetic, Super-Gridlock, Super-GOP-Lunacy on Taxes, Super-Fiscal Drag in 2012 that ensures double dip."
But his prediction goes beyond the partisan bickering of the committee tasked to cut the country's budget deficits. His point rests upon the inability of ALL Republicans and Democrats in Washington to work together on any economic issue that would benefit the good of the country. He does note that more blame should be laid at the feet of Republicans for their unwillingness to compromise....
Find out more at http://finance.yahoo.com/blogs/daily-ticker/nouriel-roubini-government-gridlock-ensures-2012-recession-134053788.html
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