In depressing economic news of the day: The U.S. will more likely than not experience another recession in early 2012. The economy hasn't exactly made a stellar comeback since Recession 2008. But, thus far we've evaded the dreaded double-dip (for now) and even saw some last "modest gains" last quarter. With the economy surviving on these strands of hope, the San Francisco Fed brings even worse news than sluggish progress, reports Reuters. "The European debt crisis is raising the odds of a U.S. recession, with economic contraction more likely than not by early 2012," writes Ann Saphir. We can only imagine the forecast will worsen if the Republicans and Democrats fail to come up with a deficit reduction plan next week.
This article is from the archive of our partner The Wire.