Actually by definition we probably are in a recession. The government had to go back and adjust down figures for growth in the last quarter of 2007. There is a reason that polls of economists show that a majority believe we are in a recession.

That being said, its an argument of semantics. Whether we are in a recession or not is less important to the fact that the economy has a number of issues that are pulling it down.

Consumer spending is in steep decline, energy prices are rising, there is a credit crunch, and turmoil in the mortgage market, whether you want to call it a recession or not is of little consequence. There are real problems that need more than happy talk from the Commander and Clueless.  

by jrolsen on 03/19/2008 06:30:38 AM EST

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