White House warns GDP number is not good

[Pale Blue Dot]

Source: MSNBC

WASHINGTON - The White House said Thursday the economy will remain gloomy through at least the end of the year, inching closer toward a recognition the United States is in a recession.

"We expect our GDP (gross domestic product) number next week not to be a good one and the next quarter to be tough as well," White House press secretary Dana Perino said.

Many analysts predict the economy could contract over the final three months of this year and in the first 90 days of 2009. That would meet the classic definition of a recession — two consecutive quarters of economic contraction. Some financial analysts say the sagging economy already is in recession.

The White House has been loath to use the word "recession" — both because the technical definition has not been met and because it carries such negative fallout.

Perino said she's not forecasting a recession, but that given the time that will be needed for the economy to turn around, it's realistic to assume that the next two reports on U.S economic health will not be good.

Read more: http://www.msnbc.msn.com/id/27340429/

[DJ13]

1. By the time they admit its a recession we'll be in a depression

[AndyA]

2. And they'll be out of office.

Then...suddenly...it will be a recession, and it will be the Democrats' fault. :(

[Doctor_J]

3. Is there any chance we can confiscate Smirk passport?

to keep him from fleeing prosecution?

[denverbill]

4. Geez. They've getting sloppy. They forgot to blame it on Clinton.

Funny, too, in a sick sort of way.

It used to be just companies that posted earnings warnings.

Thanks to Shrub and Friends, we now how to post warnings about our entire economy.

[gratuitous]

6. Dana Peroxide didn't blame Clinton?!

They're just mailing it in anymore, aren't they? It's sad in a way, like watching Willie Mays creak around Shea Stadium during the last year of his career. But the good news is that maybe they'll be so demoralized they'll neglect to start a third war on their way out the door.

[Roland99]

5. I'm sure they're working hard to get it to turn a corner and make it positive.

[dixiegrrrrl]

7. This is disaterous.

The Regime has already taken most of the real numbers out of the GDP report, in order to make it look better for all these years.

So now they are warning that even their divorced-from-reality figures look bad ??

Yoicks.

edit: spelling.