Reply #4: re: recession [View All]

[Gunit_Sangh]

Technically, we are not in a recession. The recession that we had in 2001 lasted only 6-9 months (March-October -- these may not be the exact months, I'm just too lazy to go look them up :o) and was a very shallow recession.

Since October, 2001, the economy has been expanding, slowly, but still expanding, so the current economic situation cannot be counted as a recession. What makes this expansion different from others is that jobs are not being created. Excuse me, they are being created, but just not in the U.S.A. If jobs were being created at the pace of Clinton's economy, we would have bounced back and be roaring by now (imho).