Most economists use this definition of a recession: two consecutive quarters with negative growth. We've had not even one of those this year. Or last year.
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5 comments:
You can kill yourself trying to argue technicalities - but the fact remains our economy is in trouble. Just ask the vast majority of this country, who is seeing a hit from high gas prices and increased cost of food. Or how about the people struggling to make their mortgage payments? Or the thousands of people getting laid off?
McCain publicly said in one of the primary debates that he, "doesn't really understand economic issues." Which man do you really trust to fix the economy? The one who speaks to it, or the ones who doesn't understand it? Mmmmm - tough choice, huh?
First, the amazing, all knowing "anonymous" shows up to tell us the WHOLE COUNTRY thinks we're in recession... nevermind the stupid facts.
Tell us your definition of recession please, anon.
And the "vast majority" of this country is listening to "facts" put out by MSNBC, CBS, and CNN, mouthpieces of the democrat party. They're all, as John indicates, downplaying even good news in order to help democrats in this election.
McCain said he doesn't understand economics.
Obama's degree is in Economics, so he should truly know how to save the economy, right?
What's that?
Obama's degree is in Law?
Oops. Nevermind!
I'm not sure what degrees have to do w/anything, but since you brought it up - One candidate graduated magna cum laude and the other graduated in the bottom 1% of his class. Which one do you want as the leader of this country?
The liberals love to ignore fact and run with whatever the media is saying. They have a working partnership. Go talk to any economist on Wall Street (like myself) and I'll tell you that we have a slowdown and the American people have been spoiled but one of the best economic runs this country has ever seen the past five years.
Just because the Country is having a hard time does not mean we are all doomed. Americans need to grow up and learn to financially plan. Our savings rate is negative because Democrats and unions block school reform and therefore our education system doesn't even acknowledge the new 21st century economy.
First anon...
Interesting you bring up "people struggling to make their mortgage payments?" Have you taken a look at my other posts? How 'bout how Obama getting a discount on his mortgage from Northern Trust--which is worth $300.00 per month. People who are struggling with their mortgages weren't so lucky. Nor did they have a felon's wife purchase part the adjoining lot--making the mansion more affordable to your hero.
The economy is sluggish--but we are not in a recession.
As for McCanis's claim about economic issues--has it occurred to you that he was kidding? Even if he wasn't, with the exception of cutting taxes and regulations (not something Dems do), the less government tinkering with the economy, the better.
McCain's low standing at Annapolis is mostly due to his demerits. He's mellowed a bit since then.
And if Obama is so smart, why hasn't he gotten more than one bill enacted into law as a US senator?
And his state legislative accomplishments were the work of others, particularly Emil Jones.
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