Brian Brenberg: The Economy Is Back On The Downswing But We’re Not In A Recession Yet

Co-host of “The Big Money Show” Brian Brenberg joins Fox Across America With Jimmy Failla to shed light on the factors that could cause the U.S. economy to enter into a recession later this year.

“The thing I’m looking at this year, I’m watching consumer debt. You just look at some of these numbers. People are borrowing to the hilt right now. I mean, prices have gone up and people have been spending. We’ve seen that. But it’s because they’re borrowing. I mean, the IOUs are just all over the place. And I’m not saying that jokingly, it’s a real deal. But that to me is the issue. And so you get into this year, people right now are talking about adjusting their plans. Right now they’re saying, okay, what we can do this summer, what we can do with groceries? We got a new grocery plan, we got a new summer vacation plan. All that stuff matters as you get into the latter part of the year. And companies are doing the same thing. So they’re saying, alright, earnings weren’t as good, but you know what we can do to get a boost? We can talk about job cuts. And so, every week you’re getting this string of layoffs. That to me doesn’t say we’re in a recession right at the moment, but it does put the pressure on the latter half of this year.”

Plus, Brian tells Jimmy what he believes the Republican-controlled House should do over the next two years to try and get rid of wasteful government spending. To hear what else he had to say, listen to the podcast!