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Economy Headed for Springtime Slowdown?

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    Forbes Media Chairman Steve Forbes on the outlook for the U.S. economy.

  • Duration 3:53
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-- David weak jobs reports of falling home sales are sparking concern about the strength of the overall US recovery are we headed for -- spring -- slowdown for a third year in a -- joining us now is Steve Forbes is Forbes media chairman.

An editor in chief and probably more important that.

One of the stars of Forbes on -- on.

On Fox News every Saturday where the moans you're the son Monica -- here are the to headlines today that we woke up -- depending on which when you read.

The Wall Street Journal economic reports fanned fears the New York Times fears rise a recovery may falter in the spring are they right.

That's gonna slow a little bit but I don't think we're going into recession Europe is gonna slow us down China slowing us down.

But -- this the US economy still has amazing resilience.

And if they just got a few things right you see this thing pick up real speed so -- on the highway -- thirty miles an hour should be on 6070.

-- not gonna go down to -- -- zero.

Steve it's seasonal isn't it or at least a large part of it it's because the stock market -- in the second quarter last couple years -- -- economic data is also raising some red flags.

-- more to that trend.

Well I think last year there were the real hit list of tsunami with what happened in Japan are on and on doing supply chains and the like I hopefully we're not gonna have that this year.

But so we've I think in the second quarter will probably still get to two and a half percent exports.

Been pretty good despite everything inventories are still building home even homes even though there.

Mixed there's still moving up a little bit on the housing starts asset gas price story boy there -- a lot of fears fanned by the other day ahead Barrett says stabilizing little bit the the Fed hasn't been not too busy this money printing machine NCC down oil prices.

Gold prices are still below 17100 dollars an -- So were up.

Yeah and we have drags but not nearly what we have -- we -- hair out of our policy tsunami of a kind coming up on January 1 taxes are all Intel and via Yahoo! all over the place what happens if that happens -- you can see that -- August September as markets really gauge what will happen after November but looks like the Republicans are gonna win.

They'll ride to think through they know even things expire in January when the new president comes in they'll extend it for six months or nine months delay can get a new.

Tax -- and spending bills in the light.

-- looks like who -- chance that Obama's gonna win.

You're gonna see in the markets really weakened and anticipate trying to -- goodness resigned -- Armageddon coming.

You just ignoring the election for a second -- if taxable -- hit if taxes do go up.

As they are -- go up on January 1 what happens the economy the markets.

It's easy we don't recession you have massive tax increases payroll tax thing week though it is will go away.

You've got the Alternative Minimum Tax the so called -- thirty million -- middle class Americans can get slammed by that he get everything January 1 everything bad.

And we haven't been talking very much about the debt and deficit I know this is going through congress right now the pride in doing -- continuing resolution correct.

But how frustrating is that that we can't get a firm plan that's really gonna make a meaningful difference when is that really gonna make.

And economic impacts to the downside.

Well I think if you're not gonna get any more downside -- you've had people know this thing is disaster people want to know is what are you gonna do January 1.

I think what's happening Europe is going to be an impetus for good thing for this country.

To get things right what they're doing in Europe.

Amazingly is raising taxes you've got a presidential candidate in France.

Thanks Obama look like go Ronald Reagan wants to raise the top rate to 75% and the White House must be drooling -- why can't we do that.

Steve Forbes is chairman and editor in chief of Forbes media Steve it's great to -- and and of course he you can also see him.

Every weekend on the Fox News Channel tomorrow and every Saturday at 11 AM Forbes on FOX.

That guy's picture should be adherence and my good to see Steve thanks to the host we -- out to yield thank you thank you thank you.

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