Sunday, March 1, 2015
YOLO COUNTY NEWS
99 CENTS

Too much to ask: a Congress-proof recovery?

By
From page A16 | May 19, 2013 |

The issue: Surveys show economy is picking up steam

The consensus has been that the economy will continue to recover slowly but steadily unless Congress does something stupid, always a possibility, to mess it up.

BUT SURVEYS of economists by The Wall Street Journal and USA Today indicate that the recovery is strong enough to withstand even Congress.

And the possibility of an unexpected blow coming from out of left field, say a major depression in China or the European Union, seems to be steadily receding.

USA Today concluded, “Political paralysis in Washington won’t stall an economic recovery that’s revving up across the rest of the country.”

The Wall Street Journal was slightly more restrained: “After four years of crises, foreign and domestic, that threatened to plunge the U.S. economy back into recession, the road ahead at last looks comparatively free of roadblocks.”

Both surveys see the economy picking up by the end of the year, slowed but not stunted by the sequester. USA Today’s forecasters predicted the recovery “will accelerate late this year even without a deal by Congress and the White House to lessen the impact of automatic federal budget cuts.”

ECONOMICALLY, the year started strong but growth slowed to a current rate of around 2 percent. However, the Journal’s panel expects the GDP to expand 2.4 percent for the year. USA Today sees two quarters of 2 percent growth but a strong pickup in the fourth quarter and approach 3 percent by early next year.

The year began with a healthy first-quarter average monthly job growth of 206,000 jobs but that will tail off to 165,000 in this quarter and 172,000 in the next but pick up in the fourth quarter and average 200,000 jobs monthly next year. The Journal was less optimistic, its economists foreseeing average monthly job growth averaging of just under 180,000 for the next 12 months.

At that rate, it will take until mid-2014 to restore the number of jobs the country had at the outset of the recession. But all good economic news comes with a downer: The Brookings Institution says that, adjusted for population growth, it will take nine more years to return to the prerecession level of employment.

NINE YEARS of self-restraint is asking a lot from Congress. Maybe too much.

Comments

comments

  • Recent Posts

  • Enter your email address to subscribe to this newspaper and receive notifications of new articles by email.

  • .

    News

    Sheriff: Mother ‘sole person responsible’ for infant’s death

    By Lauren Keene | From Page: A1 | Gallery

     
    Rifle Team has a blast with competitive shooting

    By Savannah Holmes | From Page: A1 | Gallery

    Child abduction case in jury’s hands

    By Anne Ternus-Bellamy | From Page: A1

     
    Pipeline project will soften water in 2016

    By Dave Ryan | From Page: A1

    Pig out at Farmers Market’s Pig Day

    By Enterprise staff | From Page: A1

     
    Weekend storm drops snow, rain, hail in California

    By The Associated Press | From Page: A2

    Christie to Republicans: No rush to pick 2016 nominee

    By The Associated Press | From Page: A2

     
    Bob Dunning: Colon prep can be hard to swallow

    By Bob Dunning | From Page: A2

    Scouts help fill STEAC’s pantry

    By Enterprise staff | From Page: A2

     
    Parole denied in 1987 killing spree

    By Enterprise staff | From Page: A3

    Explore Asia at Arboretum storytime

    By Enterprise staff | From Page: A3

     
    MU Games closing in late March

    By Special to The Enterprise | From Page: A3

    Still no parole in toddler case

    By Enterprise staff | From Page: A3

     
    City offers wetlands tour

    By Special to The Enterprise | From Page: A3 | Gallery

    UCD student with meningococcal disease is recovering

    By Special to The Enterprise | From Page: A4

     
    Young patients bond with special stuffies

    By Special to The Enterprise | From Page: A4 | Gallery

    Diversity theater group continues creativity workshops

    By Special to The Enterprise | From Page: A4

     
    Radio talk show moves to Mondays

    By Enterprise staff | From Page: A4

    Assault awareness campaign kicks off

    By Anne Ternus-Bellamy | From Page: A4

     
    UCD student panel to cover anti-Semitism, Islamophobia

    By Special to The Enterprise | From Page: A6

    Yolo Food Bank hosts thank-you breakfast on Pig Day

    By Enterprise staff | From Page: A9

     
    .

    Forum

    Mars or ISIS? Similar outcome

    By Letters to the Editor | From Page: B4

     
    City may get charged up over energy choices

    By Special to The Enterprise | From Page: B4

    Milt Priggee cartoon

    By Debbie Davis | From Page: B4

     
    Rowing: PE as well as life skills

    By Letters to the Editor | From Page: B4

    Police complaint procedures drafted

    By Letters to the Editor | From Page: B4

     
    Clarifying energy update letter

    By Letters to the Editor | From Page: B4

    Weekly claw pickup necessary

    By Letters to the Editor | From Page: B4

     
    Design innovation centers for the 21st century

    By Special to The Enterprise | From Page: B5

     
    Speak out

    By Enterprise staff | From Page: B5

     
    Distant water crisis has lessons for Davis

    By Marion Franck | From Page: A7

    Call for study to settle if anesthesia poses risk to babies

    By The Associated Press | From Page: A7

     
    .

    Sports

    Devils get a soccer win despite finishing woes

    By Evan Ream | From Page: B1 | Gallery

     
    Winning close games is the key for DHS softballers

    By Spencer Ault | From Page: B1 | Gallery

     
    Aggie men get a bounce-back win at Cal Poly

    By Enterprise staff | From Page: B1

    The mystery continues: lowly Gauchos upset UCD women

    By Bruce Gallaudet | From Page: B1 | Gallery

     
    Sports briefs: Razo throws well as Aggies get a baseball win

    By Enterprise staff | From Page: B2 | Gallery

    Defending champion Blue Devils have diamond holes to fill

    By Thomas Oide | From Page: B3 | Gallery

     
    Republic FC falls to storied New York Cosmos

    By Evan Ream | From Page: B10

    .

    Features

    .

    Arts

    .

    Business

    Online store will celebrate, mock People’s Republic of Davis

    By Wendy Weitzel | From Page: A10 | Gallery

     
    Yolo Federal Credit Union honored for supporting business education

    By Special to The Enterprise | From Page: A10

    .

    Obituaries

    .

    Comics

    Comics: Sunday, March 1, 2015

    By Creator | From Page: B8