Georgia economy lag predicted

  • Follow Latest News

ATLANTA — The Economic Forecasting Center at Georgia State University predicts the national economy will lag until Congress reaches a long-term agreement on federal taxes and spending. Unemployment, meanwhile, will stay above 8 percent until at least the middle of 2014, according to center’s latest quarterly report.

Analysts say the Capitol Hill stalemate makes businesses and individuals reluctant to spend, particularly on big-ticket items. That uncertainty means real GDP growth will continue to slide through at least early 2013, the center said, picking up only after an agreement.

The fear revolves around the so-called fiscal cliff at the end of 2012. That is Congress’s self-imposed deadline for a deal. If there is no agreement, a host of automatic tax hikes and spending cuts go into effect before a new Congress convenes.

Comments (0) Add comment
ADVISORY: Users are solely responsible for opinions they post here and for following agreed-upon rules of civility. Posts and comments do not reflect the views of this site. Posts and comments are automatically checked for inappropriate language, but readers might find some comments offensive or inaccurate. If you believe a comment violates our rules, click the "Flag as offensive" link below the comment.
soapy_725 08/31/12 - 11:12 am
Brilliant deduction from our Atlanta

brain trust. We don't have to worry about a "fiscal cliff", we have Obamagog to save us. He is only waiting for us to cry out to him for salvation.

We may be in the middle of the 7 years of tribulation. Half way through, the Anti Christ world dictator will reveal himself as savior. Score one for the "mid trib" predictors. The POTUS has eight years divided into two four year portions. The time is right. Obama has already advocated "abominations in the sanctuary".

Back to Top
Search Augusta jobs