University of Maryland economist Peter Morici said the Great Recession will return once stimulus money from the American Recovery and Reinvestment Act is spent. The reason, he said, is the size of the U.S. trade deficit. The deficit is currently 2.2 percent of gross domestic product, he said.

University of Maryland economist Peter Morici called on President Obama to abandon the conventional wisdom of the left to pull the country out of recession. Just as President (George W.) Bush's blind adherence to conservative ideology threw America into crisis, Obama must unshackle his policies from liberal group think to succeed, Morici said. Morici said the U.S.

Maryland economist Peter Morici Thursday took issue with U.S. President Barack Obama's recession strategy, saying it courts disaster. Morici, professor at the University of Maryland's Smith School of Business and former chief economist at the U.S.

The U.S. economy is in a depression, a University of Maryland economics professor contends. Professor Peter Morici, a former chief economist at the U.S.

Consumer spending, a major force in the U.S. economy, may fall further as the recession wears on, a leading economist said Thursday. We're in a deep slide.