NY TImes: Recession experts say, ‘For the record, this recession isn’t over yet.’




The unemployment rate is 9.7%, yet Republicans on Capitol Hill continue to block unemployment benefits. The major financial institutions are up to their same old tricks (and making huge profits), yet Senate Republicans are planning a strategy to derail financial reform. They’re still playing games with the economy that they helped to ruin. As the GOPers keep playing politics, we get word from the experts on recessions that this one isn’t over:

For the record, this recession isn’t over yet.

A committee of economists, charged with determining the official turning points in the nation’s business cycles, certifies the beginnings and ends of recessions. But this time, the committee members say, the evidence is not so easy to decipher.

The committee plans to announce on Monday that it cannot yet declare an end to the recession that began in December 2007, several members indicated on Sunday. Such an acknowledgment is rare in the history of setting dates to business cycles and could affect the behavior of investors and consumers.

Despite a recent uptick in employment and income, the decision of the committee at a meeting on Friday reflects a lingering worry that the economy could turn downward again in a so-called double-dip recession.

Most of us are ready for this recession to be over. But, for GOPers, dragging it out helps their electoral prospects in 2010.


On October 27, 2010, Joe was one of five bloggers who interviewed President Obama. Joe is a DC-based political consultant with over twenty-five years of experience at both the state and federal level. Joe has managed political operations and legislative efforts for both candidates and issues-based organizations. For seven years, he was the Director of State Legislation at Handgun Control, Inc. He served as that organization's first Political Director during the 2000 cycle. Joe is a graduate of the University of Maine School of Law. In addition, he has a Masters in Public Administration from Lehigh University and received his B.A. from the University of New Hampshire. Joe also has a fun dog, Petey, a worthy successor to Boomer, who got Joe through eight years of Bush and Cheney. Joe likes to think he is a world class athlete having finished the 2005 Chicago Marathon in the time of 4:10. He has completed six other marathons as well -- and is still determined to break the four hour mark.

Share This Post

© 2021 AMERICAblog Media, LLC. All rights reserved. · Entries RSS