His name is synonymous with personal finance. For over two decades, Knight Kiplinger has been been known as one of America's most respected economic journalists and business forecasters. This past Thursday “” as the government reported more unemployment claims had been filed that week than at any other time in the past 25 years “” members of the Potomac Officers Club gathered to hear Kiplinger's take on what's ahead for the U.S. economy.
First, relax, said Kiplinger. Comparisons to the Great Depression should be taken with a grain of salt. He offered this bit of perspective: The economy has seen tough times before “” the recessions of 1973-1975 and the early 1980s. Kiplinger predicted the unemployment rate would climb to 9 percent over the coming year, still below the 11 percent jobless rate that accompanied 1982. Meanwhile, all eyes will turn to Washington and the money will flow “” kind of like “the girl who can't say “˜no,'“ quipped Kiplinger.
Where does the government contracting community stand in the midst of this challenging economic climate “” not to mention the upcoming change in administration? The Washington area will be a major beneficiary of the stimulus, said Kiplinger, adding, government contracting is too technical and too entrenched for the government to take back the functions it used to perform in-house. But, he added, Washington is not recession proof and will benefit from “emergency thinking.“
After his remarks, Kiplinger received a POC Star award from Jim Garrettson, founder of The Potomac Officers Club (right). Since 2003, the Potomac Officers Club has awarded this distinction to speakers who have left an indelible mark on the Washington, DC area's business community. Former recipients read like a who’s who: Dan Bannister (former CEO, Dyncorp), Jack London (CEO, CACI), and Charles Rossotti (former Commissioner of IRS, co-founder AMS). Here's a look back at other past recipients “” and for details on an upcoming event featuring William Cohen, click here: