Vice President Joe Biden might have lowered the apparent stakes surrounding the passage or failure of President Obama’s jobs bill when he said that the country will probably not go into a recession either way.
“I don’t think the economy slips into recession if this [American Jobs Act] does not pass,” Biden said. “But I do think,” he added, “but I do think it stays sluggish and stagnant if it does not pass.”
President Obama held a press conference this morning in which he called the jobs proposal “an insurance policy against a possible double-dip recession.”
