Peter Orazem, an owa State University economist, is also pessimistic about how quickly the economy will completely recover.
Orazem believes the boosted unemployment benefits were a mistake, encouraging some people to remain out of work. He said the federal government needs to target another stimulus at people who are struggling. But he doubts Congress will approve another robust spending package.
"The rest of the world is not going to be lending us money at the same rate as they were in the past," Orazem said.