The scripts are available for printing and for sound bite identification.
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The economic recovery in America might have stalled, thanks in part to rapidly climbing gas prices and other global issues, like the earthquake and tsunami in Japan. Wichita State University economist Jim Clark says it appears the U.S. economy won't be as strong as anticipated this year.
Announcer: Americans are earning and spending more, but that doesn't mean the hoped-for economic recovery will be robust this year. Wichita State University economist Jim Clark explains.
Clark: "Economic recovery was starting to kick in and show some improvement, but we've got a bunch of things now happening in the world that are getting in the way of that recovery."
Announcer: For a lot of Americans, any extra cash they should have had from a cut in Social Security taxes is being drained by higher gas prices. Clark says instead of a robust economic recovery, it looks like we're just going to be treading water this year. This is Joe Kleinsasser at Wichita State University.
Sound bite #1
Clark says the natural disaster in Japan has adversely affected the economy. The sound bite is 20 seconds and the outcue is "pollution control equipment."
Clark: "The earthquake and tsunami in Japan have knocked out a whole lot of factories that make lots of little bitty pieces that our economy needs. Carmakers are cutting back on production because they can't get things like paint ingredients or little pieces of electronics that go into pollution control equipment."
Sound bite #2
Clark says unrest in the Middle East continues to drive up energy prices. The sound bite is 12 seconds and the outcue is "in the Middle East."
Clark: "The unrest in the Middle East is driving up energy prices, mostly because people don't know where that's going in the future. And nobody seems to have a clue what country is next in the Middle East."
Sound bite #3
Clark says the cut in Social Security taxes isn't having the effect the government had hoped for, because of rising gas prices. The sound bite is 16 seconds and the outcue is "buying gasoline."
Clark: "One of the things the U.S. government did at the beginning of the year to try to improve the economy was to cut our Social Security taxes 2 percent. But instead of spending that money on stuff made in the U.S., now most of that's going toward buying gasoline."
Sound bite #4
Clark says the economy is always going to be at the mercy of external events. The sound bite is 11 seconds and the outcue is "outside events."
Clark: "Despite all we know about the economy and all the things that a variety of people have been doing to try to make things better, we're still always going to be at the mercy of outside events."
Sound bite #5
Clark says it looks like the U.S. economy will stay relatively stagnant in 2011. The sound bite is 13 seconds and the outcue is "not dropping significantly."
Clark: "A couple of months ago it looked like we were really going to be moving into a recovery this year, but now it looks more like we're, at best, going to be just treading water, staying where we are, but unemployment not dropping significantly."