Has the US Recovery Begun?
Although the Obama administration's stimulus package of tax cuts and increased spending will give a temporary boost to GDP growth, a sustained upturn is unlikely until next year at the earliest. And that assumes that the administration strengthens its policies in the coming months to increase demand, fix the banking system, and stop the decline in house prices.
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CAMBRIDGE – Although the American economy is continuing to decline, it is no longer falling as fast as it was at the beginning of the year or in the weeks after the collapse of Lehman Brothers in September 2008. In that sense, it is reasonable to say that the worst of the downturn is now probably behind us.