Weekly Wrap: Lousy economic indicators and spending cuts

A Wall Street sign in New York City's financial district.

Lousy numbers in everything from manufacturing to unemployment have put the U.S. economic recovery in doubt -- all while the powers that be in Washington continue to arm wrestle over the debt ceiling and spending cuts. What's going on?

"This is being referred to, in some cases, as summer sluggishness. But it's a terrifying way to start the summer. We not only have all of these problems in the U.S., but utter discord abroad," says Sudeep Reddy. "When you put all these factors together, you start to see a picture that you can't just write off as a rough patch... It's more of a pothole we're running into."

Can we afford to have this kind of recovery roller-coaster?

"It's a little too early to say," says Cardiff Garcia. "It may just be that the economy was worse off than we thought all along."

For more on the stalled economy and the debate over spending cuts, listen to the interview. Click on the orange button above.

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