Recession May Be in the Cards

New York Times reporter David Leonhardt assesses the state of the economy and says the recent housing bust has the potential to send the wider economy into a recession.

A job report the Labor Department released Friday shows the economy has weakened over the past year. It did not seem to suggest the economy was already in a recession, he said.

Leonhardt said President Bush's recent mortgage rescue program would help some homeowners stay in their houses longer, but because the plan is not designed to help everyone who is about to have mortgages reset, "its wider impact will probably not be huge."

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.