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Recession Expected In First Quarter


HOLLAND, MI (WTVB) - This holiday season is beginning on Wall Street with trepidation as the "fiscal cliff" of mandatory spending cuts and ending tax breaks looms if the White House and Congress can’t agree on future spending. Investment Adviser Kevin Clark in Holland says that this uncertainty is making things tough on investors.

It’s time for lawmakers in Washington to quit kicking the proverbial spending can down the road. Most economic observers feel that a recession is inevitable for the first quarter of 2013 if no agreement is reached.

A new study suggests being unemployed raises a person's risk of having a heart attack.  The risk even increases for people who've only been jobless for a short time.  Researchers from Duke University examined data from more than 13-thousand adults ages 51 to 75 who took part in a Health and Retirement Study from 1992 to 2010.  They found that people who'd lost jobs were having heart attacks at a minimum of 1.35 times the rate as people who were not unemployed.  The authors of the study say that's similar to the risks posed by smoking and diabetes.  The study is published in the journal "Archives of Internal Medicine."