One of the "masterminds" behind the Bush tax cuts (plural) has come out and said that a recession is likely:
...he now believes a recession is likely, as he pointed to both a report from the Institute of Supply Management showing manufacturing activity in decline for the first time in almost a year, and Friday's December jobs report that showed a jump in the unemployment rate to a two-year high."Nice. I'd be surprised if a recession didn't happen. I'd be surprised if we weren't in a recession already!
Feldstein: Tax cuts needed in response to likely recession - Jan. 7, 2008