Recession May Loom for Next U.S. President No Matter Who That Is
- Obama, Bush faced contractions in first year in office
- Summers sees significant chance of downturn within three years
Rubenstein: Next President Likely to Face Recession
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Talk about a poisoned chalice. No matter who is elected to the White House in November, the next president will probably face a recession.
The 83-month-old expansion is already the fourth-longest in more than 150 years and starting to show some signs of aging as corporate profits peak and wage pressures build. It also remains vulnerable to a shock because growth has been so feeble, averaging just about 2 percent since the last downturn ended in June 2009.