The alternative view

Actively seeking out opposing viewpoints, and again, no time to elaborate, but this is a reasonable take also:
The uncertainty shock from the debt disaster will cause a double-dip recession
http://www.voxeu.org/index.php?q=node/6846

I don’t subscribe the the imminent recession argument, but I have no doubt that the ructions of the debt debate and the subsequent turmoil, combined with the unravellings in Europe will lower growth significantly compared to what otherwise would have been the case. I’m not going to engage in a hair-splitting argument about whether or not the slowdown will be a ‘recession’, the fact is the recklessness of the radicals in Congress has done immense damage.

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