Economic expert tells Roanoke crowd Virginia is not in a recession

A leading economic expert comes to our area to talk about our nation’s financial crisis.

University of Virginia economics professor Edwin Burton spoke Wednesday night at Roanoke’s Shenandoah Club.

Burton says the Obama Administration is picking up where the Bush Administration left off with failed economic policies.

Burton says Virginia is not in a recession.  The state’s unemployment rate is 5.2 percent, which he says is not recession level unemployment.

However, Burton believes the state’s unemployment rate could double if the President’s budget makes its way through Congress.

“Virginia has coal in the south. This is the death nail to the coal industry.“, says Burton.  “If there are major cuts in the military they’re going to have a big impact on the eastern part of the state.“

Virginia did use money it received from the President’s stimulus package to balance the state budget.