That is right. Using the same standards applied to Bush in the winter of 2008, we are in a recession. Understand that the official definition of a "recession" includes two consecutive quarters of negative GDP. I know this. But, with regard to Bush 43, that did not happen until the fall of 2008, yet we constantly hear that the recession began in January of that year.
Well, what is good for the goose is good for the gander. The first quarter of this year registered a GDP of .04 % growth and the second quarter has just be revised downward to 1%. If this Administration was a Bush Administration, the media would be screaming "recession, recession !!!"
I will take the position on this blog that under Obama, we have experienced two recession. I mean, fair is fair.
Source of info: CNBC
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