Nobel Prize winner Joseph Stiglitz sees a significant chance the U.S. economy will contract again in the second half of 2010, and urged the government to prepare a second stimulus package:
"The likelihood of this slowdown is very, very high. There is a significant chance that the number will be in the negative range," said Stiglitz, a professor at Columbia University.
Regarding the jobs picture in the United States, the economist added, "The U.S. economy must grow at least 3 percent to create enough jobs for new entrants into the labor force."
"If you don't prepare now, and the economy turns out to be as weak as I think it's likely to be, then you'll be in a very difficult position," he said.
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