ABC Warns G-20's Rejection of Obama-Spendanomics ‘Could Plunge World Into a Second Recession’

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Based on the view of a single economist, ABC portrayed the agreement by world powers, at the G-20 summit in Toronto, to pursue fiscal sanity over the accelerated government spending urged by President Barack Obama, as a threat the well-being of the American people.

“President Obama lost an argument today with other world leaders, and some economists say that could plunge the world into a second recession,”

Dan Harris intoned at the top of Sunday’s World News.

ABC’s “some economists” turned out to be a single one, Professor Peter Morici of the University of Maryland, who ominously warned:

“It will be very difficult to recover from that. Then we start to get into depression-like conditions.”

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