Originally Posted by RYou  Further, Presidents, like quarterbacks, get too much of the credit and too much of the blame. I believe this recession will continue and deepen and when it does I want the liberal Democrats to be fully incharge.
Go back 20 years for a little deja vu. The liberal Carter came into power and proceeded to drive up interest rates to 18% and unemployment to near 11%. The unemployment checks and other handouts nearly bankrupt several states. |
I hate it when people say that we are in a recession, when the simple definition of the word and the economic indicators say that we are not. The definition of "recession" in the text
Economics USA by Edwin Mansfield and Nariman Behravesh is: "the phase in the business cycle after the peak, during which national output falls."
According to the Commerce Department's Beureau of Economic Analysis, real GDP increased at an annual rate of 0.6% for the first quarter of 2008. Because GDP, our national output, increased from the last quarter of 2007 to the first quarter of 2008, national output has NOT decreased and we do not meet the criteria for recession.
http://www.bea.gov/newsreleases/nati...ewsrelease.htm
You can call this a downturn if you like, but the data does not support recession. A few too many people have been listening to the opinions they hear on the news instead of the facts that the news neglects to report.
Re: The Big 3 
I like the wiki definition: "a pejorative term for misuse of judicial power for the purpose of obtaining a predetermined judgement based on the political convictions of the judges without regard to the U.S. constitution". Are they limited to one party or another? Good question.
Linear Mode
