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BEIJING-President Obama recently warned about the possibility of a ‘W’-shaped recession, unless the necessary steps are taken to corral public debt, say media reports.

“It is important though to recognise if we keep on adding to the debt, even in the midst of this recovery, that at some point, people could lose confidence in the US economy in a double-dip recession,” Obama said.

The President added, “It’s about as hard a play as there is,” referring to wrangling in a deficit while under the burden of an economy that is so precariously perched.

Although much is looking up in the economy, with predictions of a moderated ‘U’-shaped recovery and even some about robust growth, there is still much concern about the US debt. Even with positive indicators, the administration must find a way to deal with matastisizing unemployment which has currently reached 10.2%. No official plan for combating the deficit has been announced.

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