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Spending for Economic Recovery: Implications for the D.C. Region
Spending for Economic Recovery: Implications for the D.C. Region
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The implosion of the housing and financial sectors has wiped out much of the economic progress achieved over the past 10 years. Consumers continue to cut back their spending as they cope with rising un-employment, falling home values and shrinking investment portfolios. Amid such pullback, combined with shareholder pressure, falling profits, and uncertain future demand, corporate cost-cutting has accelerated in recent months. All this is contributing to the longest and steepest recession since the 1930s.
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