It’s a Recession … Stupid!

Not that the American people needed any more proof that the current economy is in a recession, the National Bureau of Economic Research has concluded that the United States has been in a recession since December 2007.

That is 12 months of turmoil that the economy has suffered under W. Post World War II recessions typically last around 8 months but there was two times that it went as long as 16 months.

This current recession is the third longest and with no end in sight it may well challenge the 16-month mark. On the brightside if this recession is to be over anytime soon, it will happen over the next 4 months.

You would think that that the White House would finally acknowledge the current predicament that our nation faces but they still refuse to use the term “recession” to describe the economic state that Barack Obama will inherit from President Bush.

This news comes in two months after White House press secretary Dana Perino claimed, "I don’t think anybody could tell you right now if we’re in a recession or not."

The right wing talking point is that Bush inherited a recession from Clinton, like that really matters right now. Of course if they even bothered to do any research they would have noticed that the recession took place between March and November of 2001, long after Clinton had left office.

Should we expect Bush to be praised for the economic turnaround if it were to occur within the next 10 months? I think not, but don’t tell the right wing media.