Massive Government Spending Will Exacerbate 2023 Economic Downturn: Analyst

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Massive Government Spending Will Exacerbate 2023 Economic Downturn: Analyst

News Analysis
As a raft of banks forecast economic pain in 2023, one economic historian warns that the U.S. government’s gargantuan spending programs will push the economy well past its breaking point.
Experts are debating whether the United States is likely to experience a recession. Even the more optimistic forecasts posit that, if a full-blown recession does not occur, a severe downturn will eventuate marked by sluggish growth and higher unemployment.
Morgan Stanley's 2023 Global Macro Outlook is blunt, predicting that the U.S. economy "will tread water with 0.5% growth." Moreover, even if inflation eases toward the end of the year, the jobs outlook is dismal, the report suggests....

Source: Massive Government Spending Will Exacerbate 2023 Economic Downturn: Analyst

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