Day By Day

Wednesday, April 30, 2008

Recession..., What Recession?

So the U. S. economy continued growing slowly, at an 0.6 percent rate in the first quarter of 2008. Read about it here.

A recession is defined as two consecutive quarters in which we have had negative economic growth. So far we have experienced none. That's right, zero, zip, zilch. Yet the MSM are filled with stories about recession, and some hysterical fools are even shouting "Depression!"

As the President has repeatedly said, we are in a period of slow growth, not a recession and, while there are certainly problems with the economy, they are not overwhelming.

So why all the hyperbole, anguish, panic? Oh yeah! It's an election year and the incumbent is a Republican.