Recession Probabilities – For The 50 Million Americans In Poverty The Probability Of A Recession Is 100 percent. Growing Economic Divide For Working Class.

My Budget 360

The probabilities of the US slipping into another official recession are growing.  Don’t tell this to the 50 million people that are reportedly at the poverty level according to a new US Census report.  This trend isn’t something new and it certainly is not going to be resolved overnight.  We have nearly 47 million Americans receiving food stamps so the probability of slipping into another recession should not come as a shock.  The fiscal cliff is not a surprise.  We’ve known that unsustainable debt growth would ultimately lead to a day of reckoning.  There are now rumors that a patch work for one year is going to be applied to kick the can down deeper into the future.  Look at how well this approach is working in Europe.  The core problem of this debt crisis has yet to be resolved.  Let us examine the recession probability further.

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