Many predicted that her effects would no doubt plunge the United States economy into a recession.
It was wading into a recession carrying a heavy load of expensive products on its back.
"I don't see the emerging economies talking themselves into a recession, " says Mr Clarke.
More U.S. stimulus is expected to keep the economy from falling into a recession.
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Japan is about to plunge into a recession after eight years of almost nonexistent growth.
It will also prevent the serious job loss that would result from pushing America into a recession.
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After the agreement came into force, Canada was thrown into a recession, partly because of free trade.
Economists have forecast that if the fiscal cliff occurs, it could push the U.S. into a recession.
In the midst of all of the squabbling, ordinary taxpayers are worried about falling back into a recession.
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"Very rarely does the whole world go into a recession, " said Mr Clarke.
Mr. HOGAN: I don't technically think we need to get into a recession to feel like we're in one.
Alter Ego: But the CBO says that going over the cliff will send the economy back into a recession.
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He says, true we are headed into a recession, but he doesn't think we are on the verge of cataclysm.
The Congressional Budget Office forecasts that plunging over the cliff would likely thrust us back into a recession, albeit briefly.
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In recent months Asian currency and stock markets have been hammered, threatening to plunge the entire region into a recession.
When he mentioned the chance of China falling into a recession, he said that means China having growth under 6%.
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If both problems worsen, a European meltdown combined with continued Chinese slowing, then the United States goes into a recession.
Specifically, he is looking at Hungary, the Ukraine and Lithuania as potential problem areas if Western Europe heads into a recession.
Given that the last reading of GDP for the third quarter was 2.7%, it could push the U.S. into a recession.
There seems to be a good chance that the U.S. will slip into a recession unless the debt ceiling is raised.
The national economy flatlined in the second quarter, with no growth whatsoever, and may have slipped into a recession in the third.
However, several who see weaker prices said gold could ease if investors are worried that the European Union is slipping into a recession.
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The world economy is set to dominate the summit's agenda against a backdrop of fears that a slowdown could turn into a recession.
Europe can go back to slipping into a continental depression, a slow-bleed that alone could send the remainder of the planet back into a recession.
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There had been fears that the measures would have derailed economic recovery in the world's biggest economy and perhaps even push it into a recession.
That is by definition throwing us into a recession or depression.
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The global economic downturn, the sub-prime mortgage crisis, investment bank failures, falling home prices, and tight credit pushed the United States into a recession by mid-2008.
And Ms Yellen said in December that "the possibilities of a credit crunch developing and of the economy slipping into a recession seem all too real".
Economists warn that the measure - set to be triggered in January unless lawmakers can find agreement - could plunge the nation back into a recession.
C. today find a away to avert the series of spending cuts and tax increases that could possibly send the economy into a recession next year.
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