Sen. Schumer panic peddling on "recession"

As I noted earlier today, for the second quarter in a row, the US economy grew at an anemic rate of 0.6 percent.

We are not in a recession.

Some Democrats seem to enjoy wallowing in misery, however.

New York Democratic Senator Chuck Schumer is one:

The chairman of the U.S. Senate Joint Economic Committee, Democrat Charles Schumer, argued that the data shows the economy has "stalled" and that 90 percent of Americans are experiencing a recession.

As Brit Hume noted on the Fox News Channel a couple of hours ago, recession is a macroeconomic term, which is why many universities mandate a basic economics course as a prerequisite to graduate--so they can accurately what is going on in regards to fiscal matters.

The generally agreed upon defintion of a recession is two consecutive quarters of negative growth.

Schumer must have gone to a college that doesn't require Economics 101 for its students.

Meanwhile, according to the results of a poll released today, Eight in ten Americans believe we are in the midst of a recession.

The economy has slowed down. But we can thank people like Chuck Schumer for leading Americans into a group-think that we're in a recession.

Schumer is the chairman of the Democratic Senatorial Campaign Committe.

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