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The Bush Recession - 12/01/2008
News flash: The United States economy has been in a recession since last December. For those not living from paycheck to paycheck or not numbered among the growing ranks of the unemployed, the official word came down on Monday from the Business Cycle Dating Committee of the National Bureau of Economic Research. A recession, according to the economists that comprise the committee, "is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in production, employment, real income, and other indicators. A recession begins when the economy reaches a peak of activity." All of that happened in December, 2007, closing the books on an expansion that had lasted 73 months. Not everyone needed the Business Cycle Dating Committee of the National Bureau of Economic Research to tell them that times were tough. -- READ MORE
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POLL - Automotive Bailout
