BREAKING: If it wasn't before, the Economy JUST became the topic of the election: RECESSION

[berni_mccoy]

Breaking News headline on Yahoo News:

BREAKING NEWS: U.S. has slid into recession, economist survey says (WALL STREET JOURNAL)

http://news.yahoo.com

Article Link Up: http://online.wsj.com/article/SB120534519452630845.html?mod=hps_us_whats_news

[JuniperLea]

1. The WSJ finally came right out and said it...

It must be true...

Even though most of us knew it started a couple of years ago.

[aquart]

2. Oh! What a surprise!

Although I am pretty sure this was predicted the second Georgie's insane tax cuts went thru.

[PA Democrat]

3. Well the right wing will tell you we need MORE tax cuts, LESS regulation of business and the

financial markets, MORE wars, and in case you hadn't heard DEFICITS DON'T MATTER.

[VP505]

5. The House Reptilians are

doing that right NOW while they are debating the budget bill, I might add that the Dem's are doing a great job of countering. It still amazes me that the Reptilians have the unmitigated gall to criticize the Dem's for their entitlement programs when Bu$hCo is pissing away 10 or 12 billion every month in Iraq.

[ArbustoBuster]

9. The Republican Party: The questions may change...

...but the answers stay the same!

[Oleladylib]

4. I figured by the time they admitted it we'd be on the way out..but maybe not anyhow.

[txaslftist]

6. Recession? Try Depression...

And no bottom in sight. This will end the Iraq war quicker than any election can be expected to. The bean counters will have to shut it down.

[Nederland]

11. By what definition? (nt)

[txaslftist]

12. Interestingly, "Depression" doesn't really have a good definition,

like "recession" does.

Here's one:

A depression is a severe economic downturn that lasts several years. Fortunately, the U.S. economy has not experienced a depression since The Great Depression of 1929, which lasted ten years. The GDP growth rates were of a magnitude not seen since:

1930 -8.6%
1931 -6.4%
1932 -1.3%
1933 -1.3%.

During the Depression, unemployment was 25% and wages (for those who still had jobs) fell 42%. Total U.S. economic output fell from $103 to $55 billion and world trade plummeted 65% as measured in dollars.

[Nederland]

13. I seriously doubt

...that we will see numbers like that ever again.

Recession yes, depression no.

[txaslftist]

15. I hope you are right.

But fear that you are wrong.

[Quantess]

7. SRSLY?

Oh my goodness, where have I been? I had no idea our economy was in trouble!!!1 :eyes:

[RevolutionStartsNow]

8. Step 1 is admitting you have a problem.

There's no way we can even begin to think of getting out of this economic mess until everyone acknowledges that we're in it.

I'd like to see a lot more of this - I realize that many economists/business leaders/politicians don't want to say "recession" for many different reasons, partly not to cause a panic and partly to save their own asses, but it's time to get our heads out of the sand.

[librechik]

10. This is bad news for the Democrats

well, it will be, by the time the Republicans who have been in charge for the last 8 years, are through spinning it.

[durablend]

14. Most definitely...

"Refused to sign my tax cuts"
"Refused to open drilling everywhere but my (Bush) backyard"
"Minimum wage increase"
"The nerve to run against the Republican candidate (McCain) in the middle of a war"
"Not signing my eavesdropping bill"
"Not privatizing Social Security when I told them to"

And some more...

It's coming so watch out!