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This is causing business and consumers alike to restrain spending, creating a drag on the economy too great for any government stimulus to reverse.
WSJ: Henry Olsen: Unemployment: What Would Reagan Do?
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Rising energy prices are putting pressure on American wholesalers to try to raise prices, data for May showed Tuesday, but with the housing market mired in post- subprime doldrums and creating a drag on the overall economy, it will be increasingly difficult to make them stick.
FORBES: Worst Of Both Worlds
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Rather than getting the economy back on track for future growth, we are simply creating a debt service burden that will put a drag on the economy for years to come.
FORBES: 4 Reasons Why Bond Yields Aren't Headed Higher
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Other notable features include a blazingly fast, easy to use new interface, drag-and-drop functionality for identifying favorites and creating playlists, redesigned artist pages, improved search capability, and revolutionary radio that offers artist-derived stations without the restrictions or limitations imposed by other online radio services.
ENGADGET: MOG FreePlay brings 11 million songs to the web gratis, makes you work for free tunes
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To his credit Dudley warns that the fiscal drag that is planned is too great to do much about creating sufficient growth.
FORBES: It's Time To Take Some Money Off The Table