The Recession/Depression started in the fourth QTR of 2008. A recession is referred to as 2 straight quarters of negative growth. This never occurred until the fourth qtr of 2008 when the economy contracted by around 3%. after the election of Obummer. It has continued to decline unabated for over 10 months. Real GDP in America actualy GREW in 2008 by 1.3% on an annual basis because of growth in the second QTR. This year the economy has contracted by 6% in the first QTR and unadjusted negative growth of 1% in the second QTR Both are annualized figures. The second number most certainly will be revised DOWNWARDS in the next several weeks Probably by another 3-5%. None the less, the economy has lost almost 12% of it's value since Obummer was elected an Astonishing $1.7 TRILLION in less than a year.
And over $1.4 Trillion since he was sworn in.
Obama is an EPIC FAILURE, and it is only getting WORSE!
Wait until the extended UE benefits run out.
Democrats will probably vote to make them pernament. They're already at 20 months.