"We do not believe there is a threat there of a double-dip recession. We believe that economy will continue to grow," White House Press Secretary Jay Carney said yesterday. But some economic indicators are painting a different picture. While the private sector added 114,000 jobs in July, layoffs in the U.S. reached a 16-month high. Meanwhile, the Department of Agriculture says the more Americans are receiving food stamps than ever before. The Pew Research Center released a study last month finding that women are having more difficulty than men re-entering the work force. All of this news comes on top of the figures released by the Commerce Department last Friday showing that the economy has only grown by a dismal 1.3 percent.
Is the U.S. on the verge of a "double-dip" recession? Is the economy already in recession? Kelly Evans, Ahead of the Tape columnist for The Wall Street Journal, gives her analysis of the economic outlook.