Quote:
Originally posted by Colin
Sorry, I don't listen to Rush Limbaugh.
Apparently it doesn't matter where YOU get your news from because you cannot read it so well.
The article states that the US was in a recession in 2001. That was two years ago and that is correct.
Specifically, that recession ended 15 months ago.
The commonly accepted definition of a recession is two or more consecutive quarters of GDP shrinkage. The United States GDP has grown for five consecutive quarters including a 5% gain in the first quarter of 2002 and a 4% gain in the third quarter of 2002. Therefore we are NOT in a recession.
Average annual GDP growth since 1991 has been 3%. You can go calculate that yourself. Should take you five minutes.
The majority of the leading economic indicators were up last quarter.
Come back and try again after you educate yourself and try reading a little better next time son.
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Well, it actually talks about a recession that STARTED in March of 2001 and if what we have is growth, it's uneven at best. This is all semantics anyway. We are in no way, shape or form operating from as efficient an economy now as we were the last two years Clinton was in office.