Public Policy Brief Highlights No. 90A | July 2007
Cracks in the Foundations of Growth
What Will the Housing Debacle Mean for the U.S. Economy?
With economic growth having cooled to less than 1 percent in the first quarter of 2007, the economy can ill afford a slump in consumption by the American household. But it now appears that the household sector could finally give in to the pressures of rising gasoline prices, a weakening home market, and a large debt burden.