Lawmakers Warned That Inaction Hurts the Economy

A panel of economists recently informed Congress that it needs to create concrete plans for tax cuts, stimulus and deficit control–and fast. If it doesn’t create plans and instead continues with inaction, the economy as they see it is doomed for slow growth.

Unfortunately, the panel also brought with it gloomy outlooks for growth in 2011 as well, predicting that the Gross Domestic Product (GDP) would only grow between 3 and 4 percent. With bank rates still low and spending not as high as some would like, the panel feels that we still have a way to go to see real improvement (CNN Money).