Stiglitz says we need 3% to 4% growth to get out of jobs deficit, not happening any time soon.

Nobel economist Joseph Stiglitz interviewed by AMERICAblog's John Aravosis at the Cafe de la Mairie in Paris, France on August 28, 2011.

During our interview Stiglitz told me that the probability of a double dip recession "certainly have increased significantly." But Stiglitz made an interesting point. It doesn't really matter if we "officially" enter recession territory again or not - things are bad, and not improving, no matter what term we use to describe the current situation.

Stiglitz also pointed out that the economy needs to grow by 3% to 4% to get us out of the current "jobs deficit." And that, he says, isn't going to happen any time soon - at most growth will be 1% this year.