Well, if people start using the term depression they’ll change their behavior, hiring, purchasing and so forth even more than they already have. I can understand why the government wouldn’t use it. As far as the media goes, they’ll have egg on their face if they say “depression” and it’s wrong. 9% unemployment here in the USA isn’t what we saw in the great depression. It’s better by far. The length of this recession is now at 16 months, which makes it the longest recession in history if it doesn’t lift by the end of the quarter.
The United States economy is not heavily dependent upon export manufacturing, Woebama. Most nations whose economies are heavily dependent upon export manufacturing, unlike the US, also have experienced 10% or greater year-over-year declines in GDP. This is the classic definition of economic depression.
Also, US unemployment is not calculated in a similar manner now, in comparison to the 20 - 25% Great Depression numbers we’re accustomed to seeing. That 9% or so national average would be considerably higher, if the same methods were used now. For a close approximation, look to the U-6 unemployment numbers, instead of the U-3 numbers.