Minnick: Slow Recovery Ahead

Item: Minnick foresees slow recovery: Expect another year of job losses and budget woes, the congressman tells Boise business leaders /Dan Popkey, Idaho Statesman.

More Info: U.S. Rep. Walt Minnick said Tuesday that he sees hopeful signs in construction, real estate and retail sales that justify “cautious optimism” for recovery. But Minnick warned the Boise Metro Chamber of Commerce that unemployment will rise, commercial foreclosures will escalate, and governments will face budget woes. “The next 12 months are going to be very difficult and people are going to be very impatient, because the economy is like the Queen Mary and the Queen Mary is headed south right now,” said Minnick, D-Idaho. “It’s going to take a long time to swing it around to the point where economic growth is noticeable to the average person.”

Question: How much longer do you expect our economy to be in the tank?