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Are fears of a new recession warranted?

Elizabeth Aguilera, SAN DIEGO UNION-TRIBUNE

Saturday, August 6, 2011

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Recession is a very real possibility, said Kelly Cunningham, economist and senior fellow at National University System Institute for Policy Research. Cunningham is skeptical about reported growth and suspects the figures were boosted by government spending on credit.
“The realization is generally beginning to sink in that the growth was phony and the expanded debt makes it worse than ever,” said Cunningham.