INQUIRER.net: Analysis: US cuts likely to hit global economy

INQUIRER.net Philippine News for Filipinos

Analysis: US cuts likely to hit global economy Feb 28th 2013, 05:33 WASHINGTON  — The effects of the $85 billion in US government spending cuts scheduled to begin Friday will be felt across oceans and could further hurt recession-hit European nations and burden an economically slowing China, shrinking the market for countries that depend on selling things to the United States.   Politicians and economists in Washington argue over just how badly the cuts will harm the still-weak American economic recovery, but conservative estimates forecast a half-percent dip in the US gross domestic product this year. That's a sizeable slippage in an economy that was expected to grow by less than 2 percent.   The cuts will not hit all at onc... Keep on reading: Analysis: US cuts likely to hit global economy Media files: US-cuts.jpg (image/jpeg)

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