The odds of a recession hitting the US are rising as the cumulative effects of soaring energy costs, a flailing job market, and a dogged housing slump put the brakes on the economy, predicts a panel of economists in the Wall Street Journal today. Those economic woes, they say, are likely to lead to a Democrat in the White House.
The panel said it was 42% likely a recession would settle on the country, up 4% from December and 19% from July. The economy has voters edgy. "People are looking for change," said economist Susan Sterne; 63% of the 54 panelists chose a Democrat, with 33% picking Barack Obama, 30% choosing Hillary Clinton, and 30% Republican John McCain.