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Experts: U.S. In Recession Save Email Print
Posted: 1:39 PM Dec 1, 2008
 Last Updated: 8:38 PM Dec 1, 2008
12 comments
A | A | A

For Americans struggling to find work, it's looked like a recession for a while -- and now, a team of economists confirms that's exactly what it is.

The panel from the National Bureau of Economic Research says the economy fell into a recession in December of last year.

Many economists believe the downturn will last until the middle of 2009.

Copyright 2008 by The Associated Press. All Rights Reserved.
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Posted by: McCain Snake Oil Co. on Dec 2, 2008 at 03:17 PM
actually you can place some blame on president bush. Not complete blame, but some blame. If you look back at the Great Depression, Hoover entered office on the wave the roaring twenties, then it all went down the pooper. Wasn't really his fault, but he wasn't effective in dealing with the situation. Buying on credit and people/governments spending money they didn't have sent us into the Great Depression. BTW President Bush Admin. spent a lot of money. At least Hoover was an old school conservative. That is something you can respect. Not like today. Today we have all these "conservatives" who don't know a thing about conservative policies and get their information from Fox News or at church. Not many real conservatives in Washington. It is a dying breed.
Posted by: here Location: here on Dec 2, 2008 at 02:52 PM
Why do so many ignorant people blame President Bush for stuff he has nothing to do with? The economy is NOT Bush's fault. Turn on the TV once and awhile and WATCH the NEWS not reality TV so that you can be a informed citizen and not just repeat garbage your friends/co-workers say!!
Posted by: Obama Snake Oil Co Location: Washington on Dec 2, 2008 at 10:00 AM
Blame Bush? LOL, yes, he is all controlling of everything. Do some homework and learn about how the economy works. A Recession is defined as "two sequential quarters of no growth in GNP". So, since they are redefining what it means what else is in store? We haven't had the first quarter yet. With Jimmy Carter now elected, oops, I mean Barrack Obama, it will come soon. Since Nancy, his tax slave, wants to tax 401Ks? That is why people are pulling out of the stock market here and moving their money overseas.
Posted by: Rob Location: NC on Dec 2, 2008 at 09:32 AM
Really? I thought we were in an "economic downturn", according to Faux News.
Posted by: Duh Location: Greenville on Dec 2, 2008 at 08:58 AM
Boy, if they aren't one french fry short of a happy meal, I don't know who is!
Posted by: Anonymous Location: greenville on Dec 1, 2008 at 07:17 PM
good thing the residents turned down that walmart proposal and all the jobs it would have brought, good job guys
Posted by: Anonymous on Dec 1, 2008 at 06:22 PM
Bush didn't do this.
Posted by: B on Dec 1, 2008 at 04:53 PM
SOOO thankful that Bush has less than two months!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Posted by: Me on Dec 1, 2008 at 04:46 PM
If you think it's bad now, wait 'til Obama raises taxes. We'll go from recession to depression.
Posted by: ??? Location: NC on Dec 1, 2008 at 04:04 PM
Well, duh.Are these Einstiens just now figuring that out.If so, then they sure arent the brightest bulbs on the tree.
Posted by: Anonymous on Dec 1, 2008 at 02:44 PM
I cannot believe that it has taken this long for a team of economist to figure this out or the Govt. to admit what has been known for sometime. It seems like we passed recession a long time ago and have been in a depression for many months. Will probably take them another year to figure that out much less admit it.
Posted by: Blog Refuter Location: NC on Dec 1, 2008 at 02:17 PM
Hopefully, no longer.
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