Analyst Meredith Whitney, also known as the Diva of Doom, said she's seeing signs of a double-dip as cities and towns continue to get squeezed by cuts in federal funding. According to CNBC this is certain to get worse as Congress and President Obama try to work out a deal on the debt ceiling, she said.
"I never envisioned we would come to this point where Congress couldn’t agree on raising the debt ceiling or we’d be in this dire situation politically," the head of Meredith Whitney Advisory Group told CNBC Monday.
"Our GDP number on Friday was an indication that states and local governments, which make up 12 percent of GDP, are really pulling back," she added. "We’re certainly in a double dip on housing," which is putting "enormous pressure on the economy."
Read more at http://www.cnbc.com/id/43973763
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