The amazing thing is the number of times the media has used the word "recession," which is an economic turn meaning two sucessive period of negative growth. For all the times this word has been bandied about, we have not been in a recession, which is different from a slow down, where growth is slower.
Yet the media has never corrected a Dem politician for incorrectly using this word, thereby making things seem much worse than they are.
There are always rough patches, but basically the system is working for the most part. To phrase it another way, it IS fundamentally healthy, as someone said, and does not meed a "major" restructuring, as someone else suggested.
A "recession" means whatever they want it to mean. But three months ago they were calling it a "Depression" so at least the bullshit is improving.
My contention has always been that the Clinton economy was never as great as the media and democrats let on. It was smoke and mirrors. For example, look at the corporations and CEO's that flat out lied about how prosperous they were and ended up either out of business or in jail. Do the names Tyco, Kozlowski, Worldcomm, Qualcomm, etc., ring a bell. Ken Lay of Enron was actually more active with the Clinton administration than the follow on Bush admin. When Jon Corzine, (D), governor of NJ, was CEO of Goldman-Sacs, he loaned Enron $2 Billion to keep them alive. When Enron started their downhill slide, Corzine, knowing the stock was worthless, began pushing it to investors so Goldman-Sacs could get a return on their loan. Why he never went to prison, I sure would like to know. He's a very big Hillary Clinton supporter for one thing. Clinton's 'balanced budget' came partly from his cutting 300,000 positions from the active duty military. In addition, it was based on expected tax revenues through the year 2010. If Obama wins, and gets all of his tax plans on businesses passed, you'll see a lot more jobs leaving the country. It's getting too expensive for them to make a profit in the USA.
Yeah, GM, Ford, Bennigans etc are experiencing a "slowdown"