Don McNay says we never recovered from recession

By: Greg Robinson Email
By: Greg Robinson Email

For the second time in just a few months, lawmakers have come up with a deal to prevent a government shutdown.

But can the U.S. avoid another recession?

Financial expert Don McNay was a guest on Issues & Answers on Monday night and he spoke about the state of the economy.

It's a question on a lot of American's minds, is the U.S. plunging into another recession.

Moody's Chief Economist gives it a 50/50 chance, but best-selling Kentucky Author Don McNay says we never recovered from the first one.

“Nothing is too big to fail and also you are propping up bad businesses that's exactly what Japan did in the 1990's they propped up the weak and they let them stay along and instead of having a two year recession they had a ten year recession. They call it the lost decade. We're doing the same thing,” Don McNay said.

McNay equates our nation's money troubles with most Americans who are in a similar situation.

“We're in a situation now like a person in over their head maxed out on credit cards at some point you need to wake up and say this is the day,” McNay said.

If you missed Monday night's live edition of Issues and Answers, it will air again Sunday morning at seven right here on WYMT.

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