U.S. Chamber warns of ‘double-dip’ recession because of Dem policies

Ian Swanson
The Hill
Tuesday, January 12, 2009

U.S. Chamber of Commerce President Tom Donohue warned the U.S. faces
a double-dip recession because of the taxes and regulations under
consideration by the Democratic Congress and President Barack Obama.

“Congress, the administration and states must recognize that
our weak economy simply could not sustain all the new taxes,
regulations and mandates now under consideration. It’s a
sure-fire recipe for a double-dip recession, or worse,” Donohue
said in a speech providing the Chamber’s outlook for 2010.

Donohue said the lawmakers should not let former President George W.
Bush’s tax cuts expire at the end of year and lambasted
Democratic efforts on healthcare and financial regulatory reform as
well as climate change.

If the tax cuts are allowed to expire, “we will likely end up
with even bigger deficits and greater economic misery,” Donohue
said.

Full story here.