http://news.yahoo.com/s/ap/20100729/ap_ ... omy_survey

WASHINGTON – The U.S. economic recovery will remain slow deep into next year, held back by shoppers reluctant to spend and employers hesitant to hire, according to an Associated Press survey of leading economists.

Yet despite their expectation of slower growth, a majority of the 42 economists surveyed believe the recovery remains on track, raising hopes that the economy can avoid falling back into a "double-dip" recession.

The article basically says it's likely going to be 2015 before unemployment gets to 'normal' levels and that the biggest road block to recovery is lack of consumer spending.

It makes you wonder just who is in the best position to fix this. Obama & congress are getting an awful lot of shit for things, but every article I read says the biggest issue is consumer spending. I get that people are broke these days, but a lot of them do actually have money to spare, so wouldn't it be a good idea to encourage spending? Give people a reason to spend when they otherwise wouldn't?

They have tax-free weekends every year for people to go school shopping for their kids; why not do that one weekend a month for a year? Sure, it may not be the best thing for the deficit, but it would almost certainly boost consumer spending and as a result, create at least a few jobs along the way.

I think it's time we start thinking outside the box a little on this one because the typical methods aren't working.

By back to normal do they mean people spending beyond their means again? Seems like people are actually spending more wisely now and making sure they can afford shit before they actually buy it.

Heard economists are predicting this could be a lost decade for this economy. Unemployment is the real issue, not the slowing of the growth rate. Though I know no one is debating that. It's tricky to say which direction the govt should go. Europe is in full blown austerity mode. A 30 billion small business aid bill gets 59 votes but gets filibusted, unemployment extensions don't get passed. This is a fucked up, confusing time. I'm just glad I have a job.

I mean as far as unemployment rates and the overall health of the economy. You do make a good point, though, that people are spending more wisely these days, but I still wonder if that will continue once/if things improve.

This should not be a surprise. What other smoke and mirrors are left? We had the dot.com explosion in the 90's to fuel some growth, and after that the artificial real estate market, but really, what of value is left?