I double-checked with Gingrich aide R.C. Hammond. Gingrich is warning there may be more than a double-dip recession, but a “depression” ahead.
“When you have a president who is undermining jobs and the economy, if we a serious shock from Europe or the Middle East, you could see us go into a second, deeper depression.” — Newt Gingrich, August 4, 2011 in Radio Iowa interview.
Gingrich has been using the phrase “Obama Depression” since July. His latest comments come after the Dow dropped more than 500 points in a day.
About O.Kay Henderson
Kay is a founding member of the Radio Iowa network newsroom. In 1994, she became the network’s news director. She’s a featured reporter and commentator on Iowa Public Television’s “Iowa Press,” and the 2002 recipient of the Shelley Award.
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