Budget Cuts Spread Alarm Over Weakening U.S. Economy

04:58

August 03, 2011

Trader Stephen Guilfoyle works on the floor of the New York Stock Exchange. (AP)

Increasingly economists say the chances of a recession in the U.S. are growing.

The last "double-dip" recession occurred in 1981, but many analysts say that large cuts in government spending could knock the faltering economy back into recession territory.

New York Times: Spending Cuts Seen as Step, Not as Cure
New York Times: From Spending to Cuts, While the Economy Stalls

Guest:

Binyamin Appelbaum, Washington correspondent for the New York Times