The Truth About the Economy That Nobody in Washington or on Wall Street Will Admit: We're Heading Toward a Double Dip

By Robert Reich, RobertReich.org
Posted on April 1, 2011, Printed on April 1, 2011
http://www.alternet.org/story/150466/

Why aren’t Americans being told the truth about the economy? We’re heading in the direction of a double dip – but you’d never know it if you listened to the upbeat messages coming out of Wall Street and Washington.

Consumers are 70 percent of the American economy, and consumer confidence is plummeting. It’s weaker today on average than at the lowest point of the Great Recession.