The Spectacle Blog

Summers: Economy Still Contracting

By on 4.27.09 | 4:30PM

Finally, some honesty from the Obama administration about something.

The U.S. economy will continue to contract "for some time to come," says Lawrence Summers, director of the White House National Economic Council.

"I expect the economy will continue to decline," with "sharp declines in employment for quite some time this year," Summers said yesterday on "Fox News Sunday."

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