Summer of No Recovery

, Kristin Theresa Jaroma, Leave a comment

The Heritage Foundation’s Senior Policy Analyst and founding member of the institution’s Center for Data Analysis, Rea Hederman, spoke at the Bloggers Briefing September 21, 2010, to discuss and outline the new “Obama Tax Hikes,” a series of papers produced by The Heritage Foundation. A state-by-state breakdown, and subdivision by congressional districts is included as well as graphs, charts, and maps.

“We should not let these tax hikes take place,” Hederman argued. “The recession ended in June, 2009 but it doesn’t feel like it.” Since June, 2009, the national unemployment rate has been on the rise, giving America a summer of no recovery.

On average, every year for the span of the next 10 years, the Heritage Foundation predicts that America’s economy will produce roughly 700,000 fewer jobs in the national job market. On average, business investment drops 33 billion dollars, an equivalent of 2 percent each year. And, personal savings will drop about 11 percent.

The analyst observed that “this has a real impact on Americans throughout income distribution.”

Kristin Theresa Jaroma is an intern at the American Journalism Center, a training program run by Accuracy in Media and Accuracy in Academia.

If you would like to comment on this article, e-mail mal.kline@academia.org.