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September 3rd, 2009
05:00 PM ET

Is U.S. still in a recession?

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(PHOTO CREDIT: GETTY IMAGES)

FROM CNN's Jack Cafferty:

Almost nine in 10 Americans think the country is still in a recession - more than 21 months after it began. A new CNN/Opinion Research Corporation Poll shows 87 percent of those surveyed say we're in a serious, moderate or mild recession... while 69 percent say things are going badly in the U.S.

The good news is that number is down from a high of 83 percent in November, and 77 percent in April.

Also - fewer Americans now think we're in a "serious" recession than those who did in the spring.

And, although the economy is still the top issue according to most Americans.... this poll suggests it's dropping in importance.

While the American people might not be convinced that the end is in sight, a lot of economists say things are turning around. The Federal Reserve says it's more confident that the economy is stabilizing... although they're not sure what the recovery will look like.

Recent data has shown the economy expanding, but so far it hasn't been enough to turn around the job market. We still have 9.4 percent unemployment; and that number is expected to top 10 percent.

It's unlikely we'll see any more significant changes until consumer spending - which makes up two-thirds of the economy– picks up again. And with an overwhelming majority of Americans saying we're in a recession - it doesn't seem like they'll be reaching for their wallets any time soon.

Here’s my question to you: Do you believe the U.S. is still in a recession?

Tune in to the Situation Room at 5pm to see if Jack reads your answer on air.

And, we love to know where you’re writing from, so please include your city and state with your comment.


Filed under: Recession • United States
soundoff (192 Responses)
  1. jenny

    Jack,
    With apologies to Cuba Gooding Jr. SHOW ME THE JOBS!!! Then and pnly then will I believe that the recession is ending.

    September 3, 2009 at 1:23 pm |
  2. Conor in Chicago

    The United States will be in "Recession" until the Third World War. Corporate America will continue to milk this until it is unprofitiable for them. Once it becomes unprofitable it will about the time when we are completely bankrupt-which will usher in said WWIII.

    September 3, 2009 at 1:25 pm |
  3. Dave, Brooklyn, NY

    We will be in a recession until everyone who wants a job has one (including me). And until our unconscionable national debt is paid off and the budget is balanced. How long for that? Not in your lifetime or mine. The only real question assuming China doesn’t call in the loan is how many generations will it take to get us back to where I started out half a dozen decades ago.

    September 3, 2009 at 1:26 pm |
  4. Chuck in warren, Ohio

    Jack: Unemployment is over 15.5% where I live. If you think that is not recession, you live on another planet???

    September 3, 2009 at 1:27 pm |
  5. Kevin in Dallas, TX

    Here's an easy way to tell if we're in a recession. If people want the government to give them more stuff, we're in a recession.

    September 3, 2009 at 1:27 pm |
  6. Tina Tx

    Yes I think we still are. It will not be an overnite job getting everyone back to work and where are the jobs? Mexico, Viet Nam, India, China etc. They need to bring back the jobs here and let our workers get back on their feet.

    September 3, 2009 at 1:29 pm |
  7. Jenna

    Do you believe the U.S. is still in a recession?

    Yes we are still in a recession, however we are not on the verge of Depression like we were when President Obama entered office..

    Thank God!

    Jenna
    Roseville CA

    September 3, 2009 at 1:32 pm |
  8. Jackie in Dallas

    It's dropping in importance, Jack, because most of us who were going to lose our jobs already have, and because I believe some of the publicity on healthcare reform is a way to take the focus off the economy.

    Personally, I think the economy is showing signs of improving, but we are not out of the woods yet, nor should we expect to be. Unemployment figures will drop soon - artificially - as those who lost their jobs drop off of the extended unemployment benefits. That doesn't mean that they are back to work, it just means that they are out of benefits and are no longer counted. Until we get more jobs, we are going to stay in recession.

    I have a solution, though: tax every company who off-shores another one of our jobs the amount that the employee would pay in taxes until they start bringing our jobs back. Most off-shored jobs, especially in the white-collar area are going to China, India, and other areas in the Far East. Most manufacturing jobs are going to Mexico and South America. Bring them back, and you'll see the economy improve dramatically.

    I never did understand how a company could think that by off-shoring a job for a short-term improvement in their bottom line, that they were actually making things better long term. More people out of work means fewer cutomers for their products. Don't they get this?

    September 3, 2009 at 1:38 pm |
  9. gordon

    No, never was, because I am retired on a fixed income with basic investments.

    Yes, but is getting better, because one of my neighbors got laid off, but has been recalled.

    Take your pick.

    Las Cruces, New Mexico

    September 3, 2009 at 1:39 pm |
  10. Rob of Brooklyn

    why are people expecting there to be jobs. They were all given to India-China and whoever. There not coming back. And here's where big business screwed up if Americans don't work they won't buy. There are no other consumers like American's. They've shot themselves in the foot and only they can rectify the situation. No jobs– we stay in a recession for a long time to come.

    September 3, 2009 at 1:39 pm |
  11. Carl D.

    Jack,
    Not only are we still in recession, the worst has yet to come, our outlook is still horrible. Except for the politicians in our government, they all have a rosey future, at the tax payer expense of coarse.
    Carl in Illinois

    September 3, 2009 at 1:42 pm |
  12. Randy from Salt Lake City

    Yep, once the commercial realestate market tanks, banks start reporting actual losses from forclosures, and the dollar becomes worthless, The Greatest Depression will commence.

    September 3, 2009 at 1:42 pm |
  13. Tom, Avon, Me, The Heart of Democracy

    yes. We'll emerge from it in the Fall.

    September 3, 2009 at 1:43 pm |
  14. John from Alabama

    Jack: I believe the recession will end in the next 30 to 60 days. Most Americans do not believe the recession will end until unemployment drops below 6 to 7%. Employment is the last thing to recover in a recession, but it is the most important item to Americans who are hunting for a job or are afraid they might lose their job. Morale and confidence in our economic future are very important factors. When morale is good Americans will start to spend more. This after all is a consumer based economic system.

    September 3, 2009 at 1:44 pm |
  15. Alex in Seattle

    Newsweek said that the recession is over and technically they are correct. Since I am still unemployed, I have difficulty believing it. I'll certainly feel better once I am working again.

    Jobless in Seattle

    September 3, 2009 at 1:46 pm |
  16. Paul Austin, Texas

    Yes and we will be for some time to come. We are now only in a false upswing and this will only last for a short while. Recovery will take a long time it took a long time and two wars to get us to where we are now. Give it time though in the long run things will become more firm and the recession will end but for now we are about 55% through and it will be a while to get out of it 100%

    September 3, 2009 at 1:50 pm |
  17. Matt in Minneapolis

    Jack,

    Unemployment is still growing, GDP is still shrinking, apart from a government sponsored binge in July and August durable goods are still shrinking....I don't think we're in a recession, I know we are.

    Matt,

    Minneapolis, MN

    September 3, 2009 at 1:54 pm |
  18. Ray in Nashville

    I have been out of work for a year and a half and I certainly believe that we are still in a recession.

    September 3, 2009 at 1:58 pm |
  19. chuck b

    No and quit reporting the news that way. Where did the unbiasness in news go ??? the media likes to report on the negitve,but not often enough reports on the positive. I don't know which is worse.... the media or the GOP party.... it appears that neither one wants to report on the positive things that OBAMA is doing. They are making mistakes also (ie: not ending the war,health care,and stasnding up to the presure that the GOP and the media is placing on him. Remember we did not get into this place over night and will not be overnight getting out of this. BUSH put this country in the worst postion that any president has ever done before. 84% of the current debt is placed on the Bush administration free spending. Nothing is reported about that anymore... why ?

    September 3, 2009 at 2:07 pm |
  20. Bizz, Quarryville, Pennsylvania

    When you have as many people out of work that we have today, the answer would have to be yes. I think there are signs that says we are heading in the right direction of coming out of a recession. But not until people start going back to work and the unemployment rate starts to fall will we be able to say we are out of a recession.

    September 3, 2009 at 2:09 pm |
  21. Larry from Georgetown, Texas

    Yes I do but again there isn't much that we can do about it since most of the good paying manufacturing jobs have been shipped to China, India, Mexico or Canada so maybe we should spend more money on tread mills to go into space for $4.8 million.

    September 3, 2009 at 2:15 pm |
  22. ken jefferson city mo

    Yes, we are but not as bad as the media says in the news.

    September 3, 2009 at 2:16 pm |
  23. Michelle Johnson, Lomita, CA

    The U.S. is still in a very serious recession. Hundreds of people apply for each available job in California, and grants have been cut for college students. The governor is suggesting further cuts to Education and other vital areas. CA is mishandling the stimulus money; it needs oversight from the Feds. Economic situation will remain desperate as long as so many are unemployed.

    September 3, 2009 at 2:19 pm |
  24. Kerry Florida

    For the ignorant people in this country who have no idea what a recession means and listen to the "just say no" republicans, we are still in a recession, but a lot smaller one than when it started..It took years and years to put this country into the economic mess it was in and after 8 months with a new 'smarter' President has been in place, it's improving...

    Of course, you will never hear gratitude or thanks from the idiots in Congress who backed Bush 100% in every dumb thing he said or did...

    September 3, 2009 at 2:19 pm |
  25. GWTripp

    I just landed a job, but its going to take a while before I can catch up on all the debt I burried myself under while out of a job. Until that happens, while things aren't getting any worse, my personal recession will continue.

    September 3, 2009 at 2:24 pm |
  26. Molly B

    Tama, IA

    NO!!!!!!!!!!! It's in recovery. It's going to be a long hard processs,
    but I have faith in President Obama and his plans.

    September 3, 2009 at 2:24 pm |
  27. Mike from Denver

    Yes, but the ship does not appear to be sinking at the moment. Perhaps if we can pump more money into the economy instead of CEO bank accounts, we might float this boat.

    September 3, 2009 at 2:27 pm |
  28. Ed from California

    Yes I do. Our past economy 2001 to 2008 was based solely on the sale of houses and the trinkets that go into them ( furniture, pools, pizza ovens, backyard makeovers. wide screen TVs, Range Rovers). Of course it was a false economy where most jobs didn't support the multiple refinances and the new house payments.Or, even the initial house payment.
    House's continue to be repossessed by the banks and now it's the commercial sectors turn to go into default. Jobs continue to be sent overseas. We import more than we export! Hello!!
    This economy will never turn unless congress gets rid of the lobbyists, and get back to working for the people. Bring the outsourced jobs back, now! Stop the imports!!

    September 3, 2009 at 2:32 pm |
  29. Pablo in Arlington Texas

    Jack
    It's sorta like the morning after. We may not still be in recession but it sure feels like a helluva hangover.

    Pablo
    Arlington Texas

    September 3, 2009 at 2:33 pm |
  30. Darren

    Still losing an incredible number of jobs just not as fast as we were when President Obama was sworn in so "yes," we are not out of Bush's Great Recession just yet.

    September 3, 2009 at 2:34 pm |
  31. Heath Missoula, Montana

    I think most economists would also say that we are still in a recession. The thing that we should be excited about is that we seem to be in a recovery phase. It took more than a decade for America to recover from The Great Depression...we need to be realistic about how long it will take to get out of this.

    September 3, 2009 at 2:35 pm |
  32. Richard McKinney, Texas

    What I think Jack is that people are afraid of the unknown. We do not know what the government is going to do to us tax wise and raising taxes on the wealthy will surely effect each and every one of us. We are still reliant on foreign oil imports and OPEC controls that price and we are at their mercy. Nothing has changed on the energy front and winter is coming which means colder temperatures so fuel oil and electricity costs will go up. We are at a stale mate with spending.

    September 3, 2009 at 2:44 pm |
  33. Wilhelm von Nord Bach

    recession? I think in Evansville, Indiana where the greedy bosses at Whirlpool Corporation just announced they are closing their long time refridgerator plant and moving that production to Mexico, it just became a DEPRESSION, Jack.

    all the outsourcing and downsizing that has happened in manufacturing and now technology over the last two decades has finally caught up with this country. all those good paying union manufacturing jobs with benefits are now either "welcome to WalMart" or "do you want fries with that order" minimum wage with NO benefits.

    B S Bernanke and the Wall Street crowd can say whatever they want BUT until this countries "leadership" realises that so called "free trade" is NOT "fair trade", this country will continue to decline. people working at minimum wage jobs can't afford to buy a house or car and it's the sales of those "big ticket" items that powers our consumer driven economy.

    September 3, 2009 at 2:44 pm |
  34. Tom Mytoocents Fort Lauderdale Florida

    Jack
    I'm with the 87% of Americans who believe were in a recession. As far as the economist are concerned: these are the people that waited until September of 08 to tell America we've been in a Recession since September 07. Autistcally slow or consumate liars I'd say These folks are all charter members of the flat Earth Society. With three banks closing every Friday as business storefronts close there doors daily. Some cling to the notion that all is well in the Land . Graduates of the Bush Business School and Academy of Imaginary Threats possibly
    I'm sure that for Amerca'[s elite Upper Welfare Class this may be true For the rest of us who got no bailouts from TARP TALP or Stimulus the story is dramatically opposed.

    September 3, 2009 at 2:45 pm |
  35. Chuck From Brownstown

    Of course we're still in a recession. Did the offshored jobs come home? Did our offshored manufacturing come home?

    September 3, 2009 at 2:45 pm |
  36. Sandra in Arkansas

    Recessed, compressed, oppressed, and depressed!

    We are all of the above! This is not the America I worked for and dreamed of for my children and grandchildren. This is an America of corporate greed, where disparity in opportunities and wealth is growing. The little man made America and the little man has been swallowed up and spit out.

    September 3, 2009 at 2:46 pm |
  37. Sam in Florida

    It's not over yet. Let's see what happens when the Wall Street investors start playing around with the price of oil again.
    Unfortunately, there is still a lot of greed in this country and for some time things are starting to look a little one sided.
    The middle income family that has paid the majority of the taxes in this country is fast becoming a minority.
    We are evolving into a third world nation little by little in which you have only the wealthy and the poor.

    September 3, 2009 at 2:51 pm |
  38. Irv lilley

    Jack, Not being an economist I don't know if the recesstion is over , or just some scheme dreamed up by Repbulicans. All I know is that
    as a retiree, our expenses don't reflect any improvement for the
    better.

    September 3, 2009 at 2:51 pm |
  39. Remo, Beautiful downtown Pflugerville Texas

    Jack, I'm not in "Banking", so I'd have to say YES!

    September 3, 2009 at 2:53 pm |
  40. scott from wi

    I guess than depends.If you have a job there is no recession.If you don't have a job it is a depression.And if you never had a job you won't know the difference.

    September 3, 2009 at 2:59 pm |
  41. john .... marlton, nj

    We were in Bush's credit crisis and Obama used the opportuntity to turn it into a recession. His subsequent spending extravaganza will erode the American dream for our children... shame shame

    September 3, 2009 at 3:04 pm |
  42. Jeff in Glen Carbon IL

    I don't know why we have to harp on it every few weeks when all economists said last November that it would take 18 months. We are more than half way through that period, so we will see fits and spurts for several more months, but another year before people are happy with the employment and spending picture.

    September 3, 2009 at 3:10 pm |
  43. shawn in glendale,az

    Jack-
    The recession will be considered over when people like myself, middled aged college educated; and non-college educated workers in America have jobs equivalent or better than our old ones. Then, and only then will we consider the recession over.

    September 3, 2009 at 3:11 pm |
  44. Pamela holt

    Pam holt. , foley, al. This is not a one size fits all recession. It depends on each persons, or family"s circumstances , on whether they are still living in a recession.

    September 3, 2009 at 3:13 pm |
  45. RJ from Lake,MI

    Jack, you know the trickle down effect only this time its going to take a lot longer for the rich to get off their stash! Until this country stops bleeding jobs by the thousands everday there is no real recovery! As long as the tax roles keep deflating and the need to shell out more and more in public assistance, basically tax who`s left to death then real Americans wont see anything remotely like a recovery for at least the next five years!

    September 3, 2009 at 3:15 pm |
  46. concern denver Co

    Yes we are still in recession .. and will be for as long as we keep employing illegals instead of citizens

    September 3, 2009 at 3:16 pm |
  47. Meg from Troy, Ohio

    Jack–
    Here in Ohio, unemployment is still very rampant. People aren't spending money, even if they have it. I feel uncertain about the future–and I know that my IRA has not rebounded much. Right now I don't feel very optimistic about the economy turning around any time soon.

    September 3, 2009 at 3:23 pm |
  48. C.K. of Colorado

    That's an obvious answer Jack. People are still losing jobs, others can't find work, people are still losing their homes, and we are still seeing businesses shut down. The economy is still in a state of despair.

    September 3, 2009 at 3:30 pm |
  49. Bonnie from NJ

    My husband has been looking for a job for over a year, he sends out at least 30 – 40 resumes a week and rarely even gets any type of response. In a few weeks all his extended unemployment benefits will expire and we will be living on one income (which I am grateful to still have). I don't know what the "experts" are looking at to say we are coming out of recession, but in the real world there are no jobs!!! I will not believe we are coming out of recession until this changes. Can you tell me where he could apply to be a lobbyist, apparently there is a very active job market there!

    September 3, 2009 at 3:31 pm |
  50. Jack Martin in Florida

    Jack

    The recession will end as it always has despite the feeble minds of the congress and their blathering political nonsense. WE need an independent party.

    September 3, 2009 at 3:33 pm |
  51. Sherri-Illinois

    The only thing thats expanding is the DOW up pass 9300 and according to THOSE experts the Recession is over BUT according to MainStreet USA, the Recession is NOT over!. The economy is in the toilet & Americans aren't spending because we're scare!, America has over 6 MILLION jobless Americans including almost 1.5 Million who's benefits will be exhausting at year end AND all we see on TV is children behaving badly at town-hall meetings with this ongoing Healthcare Reform fiasco while the Unemployment rolls expand and expand with decent people losing their homes & apartments because of no jobs!. I am very disappointed in President Obama & the Congress for putting us on the back burner they way they have done.

    September 3, 2009 at 3:34 pm |
  52. Jay in Texas

    I believe we are still on the edge of a major depression. I also believe you can contribute the lower number of dissatisfied Americans to the lowering of gasoline prices. When gasoline prices are allowed to rise to outrageously high levels, like $4 a gallon, people fall behind on their house payments, car payments, and everywhere else. If gas prices start to rise again, so will the number of Americans who believe we are in a recession or a depression.
    Brownwood, Texas

    September 3, 2009 at 3:39 pm |
  53. Geri - Mead, Ok

    It's pretty hard to believe the economists when none of them saw the recession coming in the first place. If I remember correctly Greenspan, Paulson, the SEC and the folks at FDIC didn't see it coming either since they all believed it was party on. Whatever they & the new bunch say who are running the show, one can hardly take seriously much less believe.

    For the folks who are making lots of money off of Wall Street I would think the recession looks like it is over. For those who have managed to keep their jobs and their homes during this recession things probably may look a little better, at least enough to relax for the moment. But for those folks who have lost their jobs, their homes, their lines of credit, and perhaps even their families over this mess, I'd say the economy looks like a long depression for them.

    We are all holding our breath and waiting for the other shoe to drop when the bill for our deficit spending comes due.

    September 3, 2009 at 3:40 pm |
  54. Mark

    Are all the unemployed back to work, Jack? Sadly, Hope and Change just ain't gettin' the job done.

    September 3, 2009 at 3:41 pm |
  55. Gary H. Boyd

    Absolutely. I'll know the recession's over when 4 things happen:
    1. Our oldest son buys his first brand new car.
    2. Our middle son takes his family on an overdue vacation.
    3. Our youngest son, who's 40, buys a home of his own and moves out. AND.
    4. When my wife and I can take our social security stipend to the nearby casino and give it to the indians without remorse.

    Gary in Scottsdale, Arizona

    September 3, 2009 at 3:41 pm |
  56. The Broker.

    The Recess is Permanent. Just different traders, are tradeing.

    September 3, 2009 at 3:45 pm |
  57. george

    Yes, but not as uncontrolable as it once was. All it took was for someone to take office that had a clue as to what it would take to undo all of the mess that we were, and are still in. Eight more years of Republicans, and we would not enjoying what little we have to enjoy right now, at least there is a light at the end of the tunnel.

    September 3, 2009 at 3:47 pm |
  58. Nuwan Samaranayake

    Answer depends on whom you talk with. If you ask an unemployed American who is struggling everyday to live, he/she may be feeling a 'serious recession'. I never had a problem during this time except getting hit on my retirement savings. I consider myself lucky so far. So if you ask me, I think recession is almost over. We never identify it by its technical definition. So those poll numbers is a snapshot of how Americans are affected by this economy.

    Nuwan from Houston, TX

    September 3, 2009 at 3:47 pm |
  59. frankie

    Things are a little better overall, this doesn't yet help all individuals. How did we become a society that measures it's worth by how much money people can spend rather than how much they can save in their bank accounts? Individual families being able to do well, is not some kind of socialism, it is the American dream.

    September 3, 2009 at 3:48 pm |
  60. rlandschoot,

    you can't find jobs when they've been outsourced to foreign countries.
    It's greed, greed and more greed, for despite the so called lower production costs, prices still rise. Inflation is rampant, although politicians apparently don't shop grocery stores . Food pantries are being stressed, and seeing more and more middle class familes. Nothing will get done as long as Congress is feeding high on hog!

    bobl pince city

    September 3, 2009 at 3:51 pm |
  61. Bill in Sacramento, CA

    Jack, just because the stock market is doing better it's only one part of the economy. Until unemployment goes below 5% the US should stop all new applications for work visa's, green cards and imigration.

    September 3, 2009 at 3:55 pm |
  62. Linda in Charleston, SC

    The US is in a depression like none we have ever seen and I'm not sure what word exhibits more size than The Great but maybe we can call this one the Supersized Depression, fits the times.

    September 3, 2009 at 3:56 pm |
  63. Bob White, Kansas

    Yes, the US is still in a recession; but the economy is recovering. I'm happy that another depression was avoided because, in my mind, both Bush and Obama implemented the counsel of economist who remembered how the Great Depression was resolved by creating "demand." We will be in recession until jobs return and working people can afford to spend. Until that time, the government must spend.

    September 3, 2009 at 3:57 pm |
  64. Ken in NC

    I'm not an economist so I guess I am not qualified to say the recession is over but I can say from still being unemployed that the "DEPRESSION" is still on.

    September 3, 2009 at 3:58 pm |
  65. Diane Dagenais Turbide

    Jack,

    you want the typical technical answer…yes it is for people who are still not working and until they get back on their feet it will not feel like the end of the recesson individually that is!

    But to me, it feels we are also in a different type of recession which once we understand we need to change we will make many more and better recoveries or discoveries from the power of our heart, mind and spirit...that is a personal hopeful and heartfelt opinion and not a conventional opinion!

    September 3, 2009 at 3:58 pm |
  66. Dan from Alliance, OH

    Yes, There have been only a small number of people called back to work around here and the larger employers have not called back any.

    September 3, 2009 at 3:59 pm |
  67. John from PA

    I think we are still in a recession because jobs aren't being created and consumer confidence is down. BUT, i think we r headed for the end in the near futre

    September 3, 2009 at 3:59 pm |
  68. bob, oshawa, ontario

    Jack, I believe it is still in recession as well as here in Canada. We keep hearing from the economists in both countries that the recession is nearing an end. How they determine this is a mystery to me because I haven't been given an increase in income to spend and I don't think the vast majority of Americans or Canadians have either. So, how has the economy all of a sudden turned around? Where has the increased demand for products and services come from? Perhaps for those deemed "too big to fail" who received taxpayer bailouts, the extra disposable income is an indication that the recession is waning. Again, the free market works only for those in a position to shield themselves from its corrective forces.

    September 3, 2009 at 4:00 pm |
  69. Bruce St Paul MN

    You can only see the light at the end of the tunnel if you are still in the tunnel. We are still in the tunnel.

    September 3, 2009 at 4:02 pm |
  70. HD in Phoenix, AZ

    Yea...it is still in recession. The sad part is the fact that gas will go back up to $4.00 per gallon if things do improve and there is absolutely no valid reason for such prices. Nothing has been fixed as day traders involved in oil trading will still continue to fleece people at the pump and the airlines will still continue to fleece people by charging baggage fees even while oil prices are down. Climbing out of this GOP based recession is going to take a very long time as the players and problems responsible for this mess are still out there simply waiting to do it again.

    HD in Phoenix, AZ

    September 3, 2009 at 4:03 pm |
  71. Stephanie-Jersey City, NJ

    I don't think I am in a recession personally because we have both our incomes. My children are both employeed, so for me & my family yes the recession is over. But on the other hand, I have friends that have been laid off 2 & 3 times with in the last 18 months. There children can not find employement. If you ask them no the rescession is not over.

    September 3, 2009 at 4:03 pm |
  72. Chuck in Sheboygan, WI.

    Well, I just got notified that there will be no bonuses again next year, so I'd say that's a pretty clear indication our economy is still in the toilet –which is appropriate given the kitchen & bath manufacturer I work for.

    September 3, 2009 at 4:05 pm |
  73. Jane (Minnesota)

    As long a jobs are still being outsourced out of this country, the recession is not over. Remeber congress – jobs = payroll & income taxes! All those big Wall street bonuses (earned often by actually sourcing the jobs) don't do it.

    September 3, 2009 at 4:06 pm |
  74. Art

    The country is still in recession AND has been in recession WAY before the government would even use the word. I'm sorry, but gov't is still not in touch with the reality. Stop "spinning" the figures to try to get people to loosen up!

    September 3, 2009 at 4:07 pm |
  75. Charlie in Belen, New Mexico

    Wheither we are still in recession or not depends upon wheither or not you are either a corporate executive with a 6 or 7 figure bonus, or someone in the unemployment line with no paycheck, no health care, and an evection notice in your hand. In Washington DC and on Wall Street, it is the 1st case, here in the real America, it is the latter. As for the "econommic experts"... They will say whatever the people signing their paychecks want them to say.......

    September 3, 2009 at 4:08 pm |
  76. Michael in Albuquerque,NM

    Since the economy is being analized by the geniuses that measure the economy in the sales of mens underwear, I must say that we are in worse shape than previously believed. Not only are our jobs continueing to be shipped off shore, but the elastic on our shorts is frayed. What can be worse for the unemployed. First their jobs are gone then they have to spend what they have remaiming on new boxer briefs...This is more than a recession, this is depressing.

    September 3, 2009 at 4:10 pm |
  77. Jim

    Jack,

    We're climbing out, but it's a long road ahead. Wasn't it republican Phil Graham who said this was just a mental recession? Doesn't seem like we've heard much from him lately. Maybe he's off updating his doctoral thesis.

    Jim
    Reno, Nevada

    September 3, 2009 at 4:11 pm |
  78. Shirley Mesquite

    As long as companies continue moving jobs overseas we will continue to be in recession. Cafferty when are you and Wolfe going to start question these company about why they keep transferring American jobs to other countries? Why do we keep blaming this on President Obama. Why is this being over looked. Why don't we start discussing this on your show instead of trying to discredit President Obama?

    September 3, 2009 at 4:12 pm |
  79. Dee in Florida

    OF COURSE we are still in a recession, or is it really a DEPRESSION?

    If 9 out of 10 Americans think the country is still in a recession that can only mean one of two things.

    One, 9 out of 10 Americans are a lot smarted than the folks on Capitol Hill.

    OR, two, that 9 out of 10 Americans would not recognize a DEPRESSION if it hit them in the face.

    Take your pick.

    September 3, 2009 at 4:14 pm |
  80. Kay, TX

    it's not a recession. it's a correction to better define the line between the haves and the have-nots. those americans who thought the government had their best interest at heart finally got their rude awakening. welcome aboard, we'll try to make room.

    September 3, 2009 at 4:20 pm |
  81. Pugas-AZ

    The good times are not yet ready to roll. Employment is in the doldrums and the commerical realestate market is tanking. People are still in a "hang on" mode and I don't see that ending anytime soon. The stock market seems to be getting cautious. We are probably at least a year away from any sustained upturn.

    September 3, 2009 at 4:23 pm |
  82. ANDRES SAENZ(Albuquerque, NM)

    I'm a recent college graduate from the University of New Mexico, I completed my bachelor's in mechanical engineering.

    I've applied to countless companies right here in my city, I struggled a lot in 3 months to find a job. Now I've found a job that has absolutely nothing to do with my career field, but I'm very grateful to have a job that helps pay all my monthly expenses.

    YES, I believe that we are still in a recession because most companies are still very apprehensive to hire new college graduates such as myself. Even though things are improving, we are still not out of the woods quite yet...

    According to Suze Orman it may not be completely over until 2015. But I hope and pray to God that she's WRONG, I hope it ends by the 1st few months of 2010.

    I will pursue a master's degree in aeronautical engineering until things improve...

    September 3, 2009 at 4:24 pm |
  83. Scott Stodden

    Yes Jack I do believe we're still in a recession and I believe its gotten worse throughout this year of 2009. Right now the U.S. is dealing with the highest unemployment rate of my time since I've been alive, the economy is broke and we're spending more now than we ever did in this country. Should we be spending like we are if we're as broke as we say we are? The only way to end this recession is to get consumer spending back again and make jobs available to everyone. However, I dont see this happening and I most certainly believe this recession will continue well into 2010.

    Scott Stodden (Freeport,IL)

    September 3, 2009 at 4:26 pm |
  84. Lisa in Shelton

    YES – when 1000 people don't show up to fight for one job, we'll be making progress.

    September 3, 2009 at 4:26 pm |
  85. Linda in Arizona

    In a word, yes.

    September 3, 2009 at 4:27 pm |
  86. ej

    Drive through the 'Right to Corruption' States and you'll see just how bad it is in America. People are angry and fed up with having our schools underfunded, our businesses moving over seas and the banks making off with the biggest bank heist (TARP), ever. Other countries rightly so, blame the U.S. Bush Administration's lack of oversight for the end of capitalism, so they hold all their investment dollars while our government is still in denial. America doesn't manufacture anything, American workers have become 'Indentured Servants' to the point that if we complain about held on a 12 hour flight, we can be arrested and jailed. Homes are torn down, rather than given to the millions of homeless created from the last 'Freedom from Regulation' minions. America imports cheap labor from other countries, because our students are graduated knowing next to nothing and it's cheaper to hire slaves... This depression is not over by a long shot!

    September 3, 2009 at 4:27 pm |
  87. chris

    Yes, but eventuallly the economy will stabalize. BUT americans are going to have to get used to a lower standard of living, being more frugal, and start saving NOW!!!!!!!

    September 3, 2009 at 4:28 pm |
  88. Eric in Texas

    Here in Texas it doesn't feel like a recession, but my friends in Michigan and Ohio are still hurting. Hopefully, stores have a strong holiday season and we get out of this mess.

    September 3, 2009 at 4:29 pm |
  89. Judi from Frisco, Texas

    Of course we are; we made a real mess of things. Serves us right.

    September 3, 2009 at 4:32 pm |
  90. Jackie in Dallas

    Personally, I think the economy is showing signs of improving, but we are not out of the woods yet, nor should we expect to be. It’s dropping in importance, Jack, because most of us who were going to lose our jobs already have, and because I believe some of the publicity on healthcare reform is a way (especially for the GOP) to take the focus off the economy.

    Unemployment figures will drop soon — artificially — as those who lost their jobs drop off of the extended unemployment benefits. That doesn’t mean that they are back to work, it just means that they are out of benefits and are no longer counted. Until we get more jobs, we are going to stay in recession.

    I have a solution, though: tax every company who off-shores another one of our jobs the amount that each employee would have paid in taxes until they start bringing our jobs back. Most off-shored jobs, especially in the white-collar area are going to China, India, and other areas in the Far East. Most manufacturing jobs are going to Mexico and South America. Bring them back, and you’ll see the economy improve dramatically.

    I never did understand how a company could think that by off-shoring a job for a short-term improvement in their bottom line, that they were actually making things better long term. More people out of work means fewer cutomers for their products. Don’t they get this?

    September 3, 2009 at 4:35 pm |
  91. Ruie - Brownstown, MI

    Dear Jack: Nah, houses in my neighborhood are just sitting empty 'cause they can, and others are having to sell their homes for 1/3 the price they STILL owe for them. Friends who never thought they'd have to, have had to declare bankruptcy. Family members have been out of work for 18 months, and no job in sight . . . We're in this mess because President Bush and his Congressional Cronies spent like the Tazmanian Devil and because the Democrats in Congress didn't have balls enough to DEMAND oversight which is their job!

    September 3, 2009 at 4:35 pm |
  92. DON IN WESTPORT, MASS.

    When the number of people who get foreclosed on goes down and the unemployment level drops then maybe you can say we are comming out of a recession.
    Even when we end this recession our economy will be in a weakend position. We take one step foward and two steps back at every economic slow down, and we don't realize we are losing site of the finish line.

    September 3, 2009 at 4:36 pm |
  93. Rob in NC

    We are still in a recession. When there is NO improvement in any aspect of the life of the "average" citizen then a recession is still present. Here in NC we have laid off teachers, reduced our prison personnel (overcrowding our prisons), and reduced the services that our local and state governments provide. Those that still have jobs are seeing no increase in pay (usually decreases) and "threats" of losing the jobs we have. It is sad that NO ONE in the govt. seems to be in touch with the "average" citizen.

    September 3, 2009 at 4:37 pm |
  94. Denny from Tacoma, WA

    From a media standpoint yes. From a personal standpoint no.

    September 3, 2009 at 4:41 pm |
  95. Gigi

    When all my family is back to work or back to full time I'll let you know . Until then we are in a deep recession. You can't keep the bills paid up and eat, on part time work with inflated prices. When our Capitalist friends send jobs over seas we are in trouble. Maybe we need to follow the jobs.

    And...for crying out loud don't blame Pres. Obama for that. Its been going on for years...we bought the computers then the designers gave free ones to the 3rd world communities. And then American companies sent the jobs overseas to give them work. Now that's what I call getting bit in the butt by your own country.

    Oregon

    September 3, 2009 at 4:41 pm |
  96. Wm in PA

    Jack,
    Yes, we are in a recession.
    Unless we create jobs with family living wages and benefits a deep and long depression is next.
    Billions for the few and bankruptcy for the rest of us leads to no consumers for anything domestic or imported. Better let the CEOs of our huge corporations know before it is too late. King Midas was not all that happy once he had only gold. It is hard to eat your hedge fund balance or stock certificates and it is a real pain to service and fly your own plane and cut the grass for your 10 homes. But at least the rich still own the servant legislators they bought. Maybe they can legislate Beef Wellington and a nice vintage red for them.

    September 3, 2009 at 4:42 pm |
  97. leo

    yes.this recession will continue until our friends on wall st. get done spreading the bailout money between themselves.hopefully there will be something left for the awaiting middle class.

    September 3, 2009 at 4:44 pm |
  98. Marion/Birmingham

    Wait till all the unemployment runs out and you'll see recession.

    September 3, 2009 at 4:44 pm |
  99. Ron in Tupelo

    Yes, but thanks to Obama and Bernanke we are not in the Second Great Depression.

    September 3, 2009 at 4:45 pm |
  100. STAN - IL.

    How can you expect to get out of this mess entirely, when it took Bush and associates eight years to make this it? The Media seems to be pro Republican more than ever. Do you like to instigate hate like they do? Most good jobs were shipped out of the Country, thanks to the Republicans. Give our new President a few years instead of seven months to clean it up.

    September 3, 2009 at 4:45 pm |
  101. Chad from Los Angeles

    Sort of, I now have just enough extra money to blow on lottery tickets, which puts me back in the same cash problem as when Bush left.

    September 3, 2009 at 4:46 pm |
  102. Pete - Augusta Ga

    September 3rd, 2009 4:45 pm ET
    Your comment is awaiting moderation.
    While technical data may indicate the recession is ending (a result of government overspending, deficits, bailouts, etc.) the true measure is largely psychological. Is the average American more confident about his future employment ? Is the American consumer willing to start spending again? Is the average American’s largest investment (his home) mortgage-safe & regaining its value? Does the average American voter have confidence in Washington (Obama & Congress)?
    The answers are No, No, No, & Definitely NO!

    September 3, 2009 at 4:49 pm |
  103. Michael M Phoenix AZ

    Jack, If you can't find a job, then it's still a recession, or to some it's a depression.

    September 3, 2009 at 4:49 pm |
  104. Mike Murphy North Port, Florida

    According to some media outlets we are not in a recession anymore. Apparently they haven't interviewed the scores of unemployed workers! Remember the Wendy's ad in the 80's? "Where's the beef!"

    September 3, 2009 at 4:51 pm |
  105. Robert in Fayetteville, Ar.

    Yeh, I thinks US is, I know I still am.

    September 3, 2009 at 4:53 pm |
  106. Allen, Texas

    Jack,

    In a senence, Yes, we're still in a recession.

    September 3, 2009 at 5:00 pm |
  107. Colleen Brooks, Charlotte, NC

    I still don't have a job. My friends in MI have been in a depression for pushing a decade. Could it have been worse?-probably. Just glad Obama has a brain in his head, maybe he can get us where Clinton left us, @ deficit 0!

    September 3, 2009 at 5:00 pm |
  108. lynne from NC

    It depends on what kind of job. If you're 40+ and mainly worked manufacturing and your job has gone to Mexico, China or India, there will be no work for you unless you go back to the local technical college for retraining in a field that you don't like.

    If you are 20 something and your father is a former President of the U.S., you have half a chance of landing that cushy gig on an unnamed morning competitor.

    Basically, you better know someone if you want to work.

    September 3, 2009 at 5:04 pm |
  109. Scott in Texas

    YES! and getting worse. As long as jobs keep getting out sourced to other countries, immigration out of control and Obama spending money like a Paris Hilton shopping spree on daddy's credit card, we are in trouble!

    September 3, 2009 at 5:05 pm |
  110. Steve - Mich

    I understand the metrics behind saying the US is out of a recession due to changes in overall statistics.

    However, Biden or anyone else has never said things are going well for the entire Tens of millions of Americans hurting severely from job losses or financial burdens with stagnant low income, or part timers looking for full time work, or industries still lagging badly.

    A recession means its getting worse. Well its pry about right that its not. Now were at a Low Trough and just languishing until things pick up.
    But again, things might pick up for some construction workers building roads and things happening now, or maybe for CEOs of big industries, but for most people things are not.

    September 3, 2009 at 5:05 pm |
  111. David Bebeau,Springfield Missouri

    Well Jack its over for Wall Street because congress gave them all our
    money.Leaving the people who's money it was out to lunch.No Jack,
    its not over for the people...... but o' I forgot...........re election trunps the people...............
    David

    September 3, 2009 at 5:07 pm |
  112. Jim S

    Wall street and the banking institutions are already back doing what they were doing before they nearly destroyed this nation. Government appears impotent to do anything about it OR just plain lacks the guts. This nation is in deep trouble with nobody respecting or fearing the law anymore. They do anything they want.

    September 3, 2009 at 5:08 pm |
  113. John Snoberger

    The fomc Said, " seeing sign that we are almost out of this one " but, America need to get more peoples too work!!!

    September 3, 2009 at 5:08 pm |
  114. Lucy

    One of your questions a few weeks ago was "How will you know when the US is out of a recession?" (or something along those lines). I, along with some other viewers, responded with something akin to "when I have a job." Guess what? I still don't have a job. Yes, we are still in a recession.
    Lucy
    SF, CA
    writing from: Garching, Germany

    September 3, 2009 at 5:09 pm |
  115. Janet

    Yes, but not just a recession. I believe we are being euphemistic in choosing to call it a "recession".....
    this is a "depression".

    September 3, 2009 at 5:11 pm |
  116. Mike Huett

    Yes, I think we are certainly still in a recession. I work for the US Postal Service, and I can tell you first hand because of the amount of unemployment checks still being sent out and the amount of income assistance many people along my route are still receiving. The way it looks where I live, we have a long way to go before this recession is over.

    September 3, 2009 at 5:11 pm |
  117. chris

    its a recession when you lose your job. it's a depression when I lose my job.so while the economy is stil in a recession i and many other americans are in a DEPRESSION

    September 3, 2009 at 5:11 pm |
  118. David P Vernon

    Tucson, AZ – technically, no. Fractional economic growth is occurring. More jobs are being created, not as many as are being lost, but more than there were threee months ago. Durable goods orders and manufactuing output are up. Other leading indicators are up. We will probably find, when all the statistics are in, that the bottom was in June. This does not mean that a "boom" has started , so we are not "out of the woods" economically yet. Good times are still another quarter or two ahead of us, present trends continuing. However,GDP has stopped shrinking – that is the correct definition of recession, and that appears to be over. BTW – why are you asking the general public a technical question in advanced economics?

    September 3, 2009 at 5:11 pm |
  119. Anita

    Yes, we are still in a recession as long as people keep losing jobs. Tell these companies to stop laying off people. That's what is making things worse.

    September 3, 2009 at 5:11 pm |
  120. J, Utah

    Heck yeah!! My husband is still unemployed; he's unemployment benefits have run out; and we can't refinance our upside down mortgage because Wells Fargo is capping the HARP loans at 105% of the home's value instead of 125% as allowed by the Making Home Affordable program.

    I voted for Obama and I think he's doing the best he can with the mess Bush left; but I'm tired of the rich telling me the ecomony is improving!! Why don't they walk a mile in my shoes and then tell me it's improving.

    J.S. Salt Lake City, UT

    September 3, 2009 at 5:12 pm |
  121. Betty in Idaho

    Of course we are, but things are improving. The last depression took 12 years and a world war for us to recover. And people expect this one to be over in 6 months?

    September 3, 2009 at 5:12 pm |
  122. Jane

    Most definitely. I believe the numbers are false, inflated with stimulus funds that can't possibly continue. Until those numbers can be sustained without an enormous influx of tax dollars, and until the jobless numbers are cut by at least 40 percent, we will remain in recession.

    September 3, 2009 at 5:12 pm |
  123. Joshua

    Until US citizens' money is released from the Health Insurance Companies, Oil Barons and the Bail-Out Barons (Bank CEOs), consumer spending will not get better, it will get much worse.

    September 3, 2009 at 5:12 pm |
  124. mchael smith

    Hey Jack , We will be in this depression until the U.S. brings manufacturing jobs back to America.
    The best job to have right now is leader of a militia.

    September 3, 2009 at 5:12 pm |
  125. Mark in Arkansas

    "a lot of economists say things are turning around. "
    Jack... Would these be the same economists who saw this coming early last year? Were these the economists who called Henry Paulson in October and said " hey Hank, better go to congress and borrow $700 billion..."
    Yeah Jack, I really trust these economists.

    September 3, 2009 at 5:13 pm |
  126. James

    What kind of question is this? You should first ask, "Do you know what the definition of a recession is?" or something along the lines of "do you feel financially miserable" which is how people are going to answer the question, regardless of whether they know what a recession is.

    In economics, a recession is a general slowdown in economic activity over a sustained period of time, or a business cycle contraction.

    September 3, 2009 at 5:13 pm |
  127. R.Burton

    Things are terrible. It may be great if you are a banker or work for the government. I'm tired of the propaganda being fed to the public every day. This country is in real trouble in need of real solutions which are no where in sight.

    September 3, 2009 at 5:13 pm |
  128. Agnes from Scottsdale, AZ

    Jack: We need to have job growth in order to "feel" like the recession is over. Right now we celebrate when the numbers of lost jobs goes down. We need to see stronger signs before most people feel comfortable about the recession being over.

    September 3, 2009 at 5:13 pm |
  129. slobodan

    yes, but i think its becoming less serious

    September 3, 2009 at 5:13 pm |
  130. Josh (CA)

    Whether Americans think America is in a recession is irrelevant. All these numbers, predictions, and pundit talk is meaningless. What matters in the end is what each and every American is feeling and experiencing in their wallets and their job statuses. All that we care about is how we are doing individually, whether we have jobs, put food on the table for our families and whether we can make it through each and every day. Recessions will pass and things will get better, but this talk of economic recession all the time and constant worrying about America's overall status is tiresome and repetitive.

    -Josh from CA

    September 3, 2009 at 5:14 pm |
  131. Cheryl

    Well, Jack, if we are in one, I don't think increased military spending, ludicrous cap and trade policies, and tax hikes for an inefficacious healthcare bill will get us out . . .

    September 3, 2009 at 5:14 pm |
  132. Sharon G. in Molalla Oregon

    George Bush tried to bankrupt this country, and he just may have succeeded.

    September 3, 2009 at 5:14 pm |
  133. Peter M

    The recession is over. Industrial manufacturing grew by 9.4% percent for the first time, since 2007. Home sales picked up and, the prices stabilized. What now needs to happen is psychological, to move Americans from obsessively saving to spending again. Govt hiring will expand and private employers will begin hiring in the second quarter of 2010 as the majority of TARP dollars find their way into the economy.

    Yep, Obama saved the economy from falling to pieces. Credit is once again flowing and those Banks that got Fed dollars are eagerly paying back.

    September 3, 2009 at 5:15 pm |
  134. Olu

    Jack, sincerely we’re still in this recession mess, though things are improving but it’s not going to come like a magic, it took years of recklessness of some unconcerned CEOs and indiscipline on the part of some who enjoyed living above their means to get here; imagine the years and lets be sincere on how long it’s going to take for the effect of this monster called recession to be away finally from our face.

    September 3, 2009 at 5:15 pm |
  135. John C. Mc Court

    Yes Jack I do think we are still in a repossession.

    Maybe the banks will stop holding on to there money and lend some of it out it would cause people to spend more.

    September 3, 2009 at 5:15 pm |
  136. judy Best

    dear jack
    well duh....you said it yourself in your preamble, until the job market turns around, people just don't have the disposable income to really get the economy moving...and it isn't just in the U.S., we're really feeling the sting here in Canada. But as in all other economic hard times, it won't last forever.
    Judy
    Canada

    September 3, 2009 at 5:15 pm |
  137. Elizabeth Garrett

    I believe we have surpassed the recession and are now in America's 2nd GREAT DEPRESSION. If the easy credit policies of the Federal Reserve and too much consumer spending got us into this mess, what makes you think that increased consumer spending is a positive sign? We need increased SAVINGS, not consumption.

    September 3, 2009 at 5:15 pm |
  138. Connie

    If you have ever walked through West Hartford Center in Connecticut, you would say that the recession is over. Every restaurant is full, shoppers are out and about....no sign of empty pockets! But I do know that many are still without work, without health care insurance, and with the fear that their jobs are at risk. How about to stimulate the economy, instead of giving the bailouts to the big dogs, give each American citizen $1million....houses will be saved, taxes will be paid, cities will have tax revenue, bills will be current, and discretionary spending will begin again at rates that keep business growing.....just maybe it would work!!

    September 3, 2009 at 5:15 pm |
  139. Fred in Sarasota, FL

    Yes we are! Stores are still closing, restaurants are near empty, but don't blame me! In the past 12 months I bought a new car, a new house, furnished that house and went on 2 trips to New York.

    September 3, 2009 at 5:15 pm |
  140. Sam New Castle, PA

    Yes,and it will stay there until jobs pick up. GM could have used bailout money here in the U.S.A. Instead, they send it to China. Whatever happened to American made? The mega corporations have outsourced what used to be made here to other countries.

    September 3, 2009 at 5:16 pm |
  141. Annie, Atlanta

    It is if you live on Main Street; Wall Street, not so much. I’d like to thank the President for helping the rich get richer, though I could have sworn that was Bush’s ulterior motive.

    September 3, 2009 at 5:16 pm |
  142. Edwin Salt Lake City, UT

    Jack, Yes the recession is here and I don't care what all these economists and experts are saying about it supposedly ending soon! Jobs! Jobs! Jobs! Oh yeah this recession is definatley a dark and ugly one..

    September 3, 2009 at 5:16 pm |
  143. newt

    Just because the funny money stock market is going up, which is nothing more than paper, makes believers out of skeptics is sad.

    This is not a recession it is a depression. Compare the numbers we have today, using any standard you want, to the same numbers during the depression and see what you come up with.

    When you get the answers you will discover, YOU LOSE!
    JZ

    September 3, 2009 at 5:16 pm |
  144. RC

    The Company I've worked at for the last 16 yrs and which has usually been well insulated against economic downturns, just had a layoff.
    The first in more than 40 years.
    Unfortunately, I was caught in the layoff and now find myself without
    a job and wondering how in the world I'm going to afford the medical
    insurance we so badly need.
    Do I feel we are still in a recession?
    Based on the impact on Gulf Coast Refineries and the companies
    that provide services and products to them.
    Based on talk in the chat-rooms.
    Based on my own personal cercumstances.
    I do indeed feel we are still in a recession.
    I believe we will see some bright moments from time to time
    but the recession is far from over.

    September 3, 2009 at 5:16 pm |
  145. john ca

    The fed is the Biggest bank in the United States everyone should read what they have too say, "about this one." Fomc will they exit buying housing Bonds? Almost out of this one. V

    John from ca.

    September 3, 2009 at 5:16 pm |
  146. Jagdish Dhuwalia

    Yes, it has been for a few years and will probably take a few more years for a full recovery.

    September 3, 2009 at 5:16 pm |
  147. Christine Coe

    Are we still in a Recession? My answer is overwhelmingly NO!
    The truth is we have been out of a recession and into a Depression for many many months. Amend your polls. Everyone I talk to believes the same thing. During our last Depression our leaders failed to acknowledge it at first as well. The unemployment count does not figure all unemployed Americans who want to work. It does not take into account the "Disenchanted Workers" who gave up and have stopped looking for work in the last month or so. It does not include those who are ineligible for unemployment such as those whose benefits have run out, were never eligible, or any of the self employed!
    Or what of those forced into a minimum wage part time job? There are many studies that do take all Americans into account who want to work and can't and these figures come to 20% Nationwide! and as high as 22% in California.
    Remember that 1 in 5 families were unemployed during the Depression. A closer more complete account of the unemployed or underemployed indicates that we once again have hit those figures, and in my own state we have topped that. Who do our leaders think they are kidding. Not those of us living with the reality of a Depression

    September 3, 2009 at 5:17 pm |
  148. john Webber

    I believe we are still in a recession as the unemployment rate has not dropped significantly in the last few months. Tunnels for turtles and study of the marsh mouse, 4 buses for millions to create 4 or 5 jobs, wow! The stimulus is working. Also we created jobs for Czars at very high pay and bonuses for failed monetary institutions. And as many have said, if you are still out of work it is a recession.

    September 3, 2009 at 5:17 pm |
  149. CRYSTAL - SEATTLE, WA

    Hi Jack,

    You probably won't read my comment because you never do.
    🙂
    I think it depends on where you live. For example, I live in the great northwest where we are not feeling the reccession like other states such as Ohio or Detroit the industrial states. We are a technology state and technology is not going anywhere anytime soon.

    Thats just how I feel atleast.

    September 3, 2009 at 5:18 pm |
  150. Dena Seiden

    From where I sit, an aging baby boomer whose friends are getting fired and whose savings have been halved at best, yes, ofcourse, we are still in a recession. It's not even a question.
    The serious problem is that the laws we need to be put back in place, as they once were there, are not being addressed. There is still nothing to prevent tunnel vision investment bankers, corporate lawyers et al. from doing more credit-default swaps where is the equivalent of selling the Brooklyn Bridge or doing more sub-prime mortgages and then bundling them into securities to be sold with only air backing them. Only when such practices are criminalized will be see a way out of the worst of these, as all the people that did these things are either still doing them or eager to start doing them again.

    September 3, 2009 at 5:18 pm |
  151. Jack CArlson

    Absolutely ! The ADM might engage in alot spinning in the next few weeks, however the American People know !! We made a major mistake voting in a liar, a questionable American, a groomed far left radical – I feel sad for those who feel guilty at this time as we meet them every day.
    Jack C
    WA

    September 3, 2009 at 5:18 pm |
  152. Shawnne Mc Kenna

    Yes I do believe we are in a recession, and it doesn't appear to be getting better. I was laid off from a sewing (manufacturing) job last October in Central Minnesota. My husband was laid off from a technology job in Tennessee 2 1/2 months ago. We put in resumes and applications everywhere and do not get responses. My Unemployment has run out and we are losing our house in Minnesota. Employers are not hiring, and when they are, they are overlooking those of us in our 50's.
    I would say we are most definitely not out of the woods!

    September 3, 2009 at 5:18 pm |
  153. Vick R Welsh Orange Park, Fl

    Yes Jack!! Look in the newspaper or Graigs list and see how many jos are out there, not many! Take a look everytime you go for a ride and see the closed restaurants or small business. Enjoy the specials that busnesses must use to try to get customers to come in. We are still in a recession and no end in sight.

    September 3, 2009 at 5:18 pm |
  154. J. Hawkins

    While not an economist, qualified to speak with statistics and theory to support my claims,I am still in a recession. I'm 25, laid off for 4 months, looking for full-timw work and clinging for dear life to my gov't subsidized COBRA here in NYC. So, ummm, yeah "we're" still in a recession.

    September 3, 2009 at 5:18 pm |
  155. jad

    No. This is an illusion of the mind. We're going through a phase, phase that many people go through on a stranded island. One where we imagine that every is going to be okay. We're staring at the horizon because we think we see a boat and we think were going to be saved but it's really just a cloud: an Obama.

    September 3, 2009 at 5:19 pm |
  156. dominic casulli

    No, the recession is over. We are at the beginning of a period of stability in the economy. Instead of the profligate spending in previous years, we ( and the government) will have to live within our means. The government will have to provide a safety net for those who cant compete in the new economy while the market will provide a new equilibrium.

    September 3, 2009 at 5:19 pm |
  157. Mike, Sandy, Oregon

    Yes we are still there. As Pres. Obama said before it will be slow, it will take time and patience. Of course we have the gloom and doomers, i.e. Repulicans, Beating their death drums and just waiting and hoping that the country will collapse so they can say they were right. They will also take credit when we recover. We are on the right track finally and in spite of attempts to torpedo the actions taken by Obamas Administration.

    September 3, 2009 at 5:19 pm |
  158. Sharon from Texas

    Recession??? Of course! People are still out of work, and bail-outs are still bailing out the "Wall-Streeters" . Prices are still going -up, as is gas. By the way, when is our stimulus checks ( our bail-out!!!

    September 3, 2009 at 5:19 pm |
  159. Jonathan

    this country will be in a recession until the general public decides it is not. until the public is comfortable with their investments and stops hiding money under the matress and return to normal spending. we will be.

    September 3, 2009 at 5:20 pm |
  160. Lyn

    Yes, we are in recession. Obama's policies have helped big business, wall street, car companies but not the low or middle class.
    EVERYONE I know has stopped charging on credit cards, cut back, stopped spending, but our government thinks they can spend our way out of this. THAT IS A LIE. I have lost faith in government first with Bush, now with Obama, Those in power will keep our future income stagnet, depressed , its not even money, it is credit they hold...and I can't wait to vote again. My representitives wil not get my support. I voted for change, yet get more and more of the same.I thought Obama would be better. Shame on me for belief in the system.

    September 3, 2009 at 5:20 pm |
  161. Greg H

    Jack
    As I'm sure you know, there are several factors that need to happen before we are truly in or out of a recession. Not all of those things have happened nor are they likely to before the end of this year. I wish I could look through the same glasses that Pres Obama is peering through. Things just aren't that rosy without them.
    Seasonally adjusted unemployment is going to start happening as soon as school is back in session throughout the country. Demand for tourist related services and supply is going to fade. The Cash for Clunkers program will drive manufacturing until the car lots are once again bloated, now that there's no carrot for buying a car.
    No, it's not over. Policies in fact, could easily have made it worse. We'll see.

    Greg

    September 3, 2009 at 5:20 pm |
  162. JIM FALLBROOK CA

    That is a no brainer. We are in a recession and will probably be in one for some time to come. We may be in it for the next 3 years of Obama's term. That is what President Obama meant for change. He has made it worse since George W. Bush left office.

    September 3, 2009 at 5:20 pm |
  163. Dick Scott

    Jack,
    Until people get a job the recession will never be over.
    By the way Jack do you think you could talk Wolf into taking
    another week vac?
    The situation room is much better looking these two weeks.

    Dick Scott of Sand Springs Okla.

    September 3, 2009 at 5:21 pm |
  164. Jon Auer

    I do not see this recient surge is a positive direction as anything but a false indicator. I believe the measures taken by or President are temporary stop-gap measures, to get hold of the situation.

    In my own state Tennessee I see most of the Sattelite factories closing ot laying off, with only a few new exception like the VW Plant scheduled in Chatanooga. Everything elese seems to be closing.

    Shovel ready jobs are not at the plenty, and when you speak to most business folks here, the hiring surge localy is to replace staff that was cut back to low in the first place.

    I do not see us in full recovery Jack, and I think we want so much good to happen we are jumping at false indicators, and somewhat staged numbers. Our President is trying, but we have a way to go.

    We need long term jobs, stronger presence on a Global scale to sell goods.

    Jon in Nashville

    September 3, 2009 at 5:21 pm |
  165. Eric, Flemington, NJ

    The economists can decide whether we are still in a recession or not. Psychologically, we are in a depression – hence the disparity between the economic metrics and the way average Americans perceive the current situation. Leadership needs to focus on positive trends and communicate a positive pathway to growth. A positive perspective from the mass media would help as well to turn things around.

    September 3, 2009 at 5:21 pm |
  166. Sam New Castle, PA

    Think if the government gave each citizen one million dollars. That will pick things up. That is the most cost effective use of monies the government spends everyday.

    September 3, 2009 at 5:22 pm |
  167. Steve from Colorado

    If a recession is a slowdown in economic activity caused by less consumer spending and high unemployment, then yes I do think we are in a recession. When unemployment stops receding and those currently with fears of losing their job begin to feel more secure, then I will agree the country is out of a recession. Unfortunately, the step right after a recession is a slow economy. I see no signs of a strong economy in the next 24 months.

    September 3, 2009 at 5:23 pm |
  168. C. Farrell, Houston, Tx

    No, I believe the recession is over and now the era of change must be accepted because a lot of jobs just aren't coming back.

    September 3, 2009 at 5:23 pm |
  169. Doug in San Antonio TX

    Yes we are in a recession and it is getting worse. The unemployment rate is still growing, businesses are still shrinking and each month the foreclosures are higher than the previous month. Illegal immigration is continuing, and they are turning to crime in greater numbers. Where will it end? When will it end? I cannot tell at this point, only that it will get much worse before it gets better.

    September 3, 2009 at 5:24 pm |
  170. Lyn

    It seems the best title to have is czar. Obama hires alot of them. Where are the green jobs? Any one hired for green industry? Again smoke and mirrors from our government. Doesn't matter Dem or Rep. they all lie. Don't think your representitive is any different.

    September 3, 2009 at 5:24 pm |
  171. larry

    Jack, with nearly 80% of the jobs lost being to men we are in a MANcession.

    Larry
    Florida

    September 3, 2009 at 5:24 pm |
  172. Marge from Hibbing Minnesota

    I'd like to ask a question and have it answered. The reason we can't get any thing done in congress is, the minute a person gets elected they start to run and gather money for their next election. If they had term limits, If congress people could only hold one 8 year term and have to wait 10 years or more to be re-elected it would make a big difference.

    Now my question. "HOW CAN WE THE AMERICAN PEOPLE GET TERM LIMITS FOR CONGRESS?"

    It seems that congress will not do it themselves, WE the people must. They put in term limits for the president, why can't we term limit them.

    September 3, 2009 at 5:26 pm |
  173. Chris - Denver

    No, the recession is over thanks to the bold action of the Obama administration. It will take a while for the labor market to recover, but that is always the case. A return to Great Depression territory has been averted, and the American people should be very grateful to President Obama for that.

    September 3, 2009 at 5:28 pm |
  174. Lucy of Texas

    We are still in a recession and Bush's reign of trickle down economy is not through "trickling down" to all of us.

    CNN reported on the "FAT CATS OF WALLSTREET" and how their scheme blew up in their faces and America had to pay for their greed. What about reporting on the "FAT CATS of U.S. Health Care (hospitals, insurance and drug companies) " and who is paying those "6 lobbyists" for every Congressman?

    Just out of curiosity, how much does it cost a year for those 6 lobbyists to pay their large staff, and the going rate of "perks", "under the table money", "fact find trips", "research on issues of interest" to one U.S. Congressman?

    September 3, 2009 at 5:30 pm |
  175. Lynn

    ABSOLUTELY!!!!!!!!!!!!!! WE are still in a recession, The economy may be getting better, but, I still have a college educated son that I am having to help with his expenses because he can't find a job, another son that's a college student that has had his hours reduced at work, and a husband who works for a major overnight shipping company who has also had his hours cut . Even if the economy gets better, we still won't be in good shape!!!!!!

    September 3, 2009 at 5:31 pm |
  176. Jeff Busta

    Jack,

    Your a smart guy, maybe you can help me understand....

    This country has been burning money for quite some time now, first Bush and now Obama. Both of them have been coming to me to pay the bill because I sacrificed, worked two full time jobs, put myself through a top notch college and made a bit of money.

    Here's my question...Obama says that if you make 200K, your doing well and should pay for all the rest. How can he say that without factoring in WHERE you live?

    If you live in Memphis, and make 200K, your the king...If you were born in southern California, and continued to live there and make 200K with a house and a few kids, you are not doing all that well, or in any position to pay for others.

    Shouldnt I be able to pay for my own kids education before I pay for a strangers needs???

    What kind of idiot does not take the regional cost of living into account when determining who will pick up the check for the country?

    This guy won't get my vote again.

    Keep up the good work...always entertaining...

    Jeff Busta

    September 3, 2009 at 5:32 pm |
  177. "Macho" Camacho

    Recession, yes we are still in it. I have never heard anyone say we are out, yet. After all it took 8 years to get in this mess. Our Administration has been working on recovery less than 8 months.

    Rephrase your question – "Do you believe the U.S. is in a depression? I believe, 10 out of 10 Americans would say – No.

    Crisis averted.

    September 3, 2009 at 5:33 pm |
  178. Greg in Arkansas

    Jack,
    If this was anyone but you asking this question I would say "are you kidding"? Just go spend about 48 hours "among" the people anywhere your dart might hit the map in this country, and I am quite sure that 9 out of 10 will become 999 out of 1000 !!

    September 3, 2009 at 5:33 pm |
  179. Ralph Spyer chicago Il

    Banks are still going under,because the money they lent is gone. Home prices are going down and home owners owe more than their is worth.

    September 3, 2009 at 5:33 pm |
  180. Ginger Correll

    We are coming out of the recession in my world. I am a retiree in Virginia who has seen my 401K recover 36% of what was lost in 2008. My niece in Kentucky who has been out of work for almost a year got a good paying job last week. My nephew in Florida, who works in construction and has been trying to support his family on two days of work per week for the past 15 months has recently been averaging 4 days per week. In my world there is no question that the recession is almost over. THANK YOU PRESIDENT OBAMA!!!!!

    September 3, 2009 at 5:36 pm |
  181. Ramsey

    We keep being told that the recession will be over when consumers start buying again. I think the average person is pretty well tapped out. Unemployment is high and many if not most incomes are stagnat or falling. Us retired geezers can no longer count on any income from savings, CDs or money market funds. When half the nations wealth is in the hands of a few percent of the population how can the average joe buy us out of a recession? The billionaires are not going to do it either. How much can can one person spend? I don't see them spending anywhere near the same percentage of their income as the average Joe or Jane must.

    September 3, 2009 at 5:37 pm |
  182. Jerry - Fountain CO

    Absolutely – yes!!! And it will go on. There are only so many well-paying jobs a society can create. And a middle class working population can support only so many people.

    September 3, 2009 at 5:40 pm |
  183. Phil Idrissi - Toluca Lake, CA

    No, I don't think we are "technically" in a recession any more, but that is a far cry from widespread economic prosperity...or even stability for the vast majority of the US populous. If I plant a seedling and ask you "Is that a tree?" the techical answer is "Yes"...but don't look for any shade any time soon.

    September 3, 2009 at 5:43 pm |
  184. EugeneWiese Midlothian,Va.

    Yes Jack,and those without jobs are in a depression. Gene

    September 3, 2009 at 5:43 pm |
  185. al in delawere

    Yes, we are still in a recession but we are beginning the recovery. All of the leading economic indicators are looking positive. Job increasese are always the last to recover. The important thing is the stimuless package has saved us from a depression and we have turned the corner. If you don't believe me, read the headline in the Wall Street Journal. By the way I don"t like the way Ms. Malvo lead the show nitpicking at the Vice President's statement. This has gotten to be a bad habit at CNN. We already have one Republican cable channel. We don't need two.

    September 3, 2009 at 5:44 pm |
  186. Kim in Dodge City, KS

    Why doesn't anyone call it a depression? Let's face it, when the Fed says "stabilizing", they are really saying that the quality of life has deteriorated and that is now the new norm.

    September 3, 2009 at 5:44 pm |
  187. Alice

    I am so sick and tired of everyone blaming our government for everything. There is plenty of blame to go around. From the people that purchased homes they couldn't afford, the CEO's of the oil companies making $710,000,000.00 in salaries and bonuses a year while the American people paid $4.00 a gallon for gasoline to the Madoff's on Wall Street.

    The citizens of this country take the easy way out and blame the government for everything. Take a long look in the mirror and at big business if you want someone to blame. I would trust our government anyday over big business. At least I can vote their CEO in and out of office.

    September 3, 2009 at 5:48 pm |
  188. J. Hawkins

    Mr. Casulli,

    If Americans and the gov't are ressolved to spend within their means, how can the economy recover if we don't return to reckless spending? The article above state that consumer spending accounts for two-thirds of the American economy.

    How exactly is the economy "stabilizing", if people aren't spending? (After thiss crisis, I'm certain my habits are reformed with a preference for saving and investing in longlasting, quality goods when I do require purchases.) The stimulus bill is propping up figuress at this stage and American business has yet to account for the shift in mindset of the American consumer. I'm my opinion, we're in for a bumpy ride.

    September 3, 2009 at 5:50 pm |
  189. Adam Simi Valley, CA

    Of course we are. People keep trying to cling to wisps of recovery, but the reality is we are nowhere near that point. If there is any increase in productivity, it will be short-term. The pace of government spending is unsustainable and they have done nothing to untie the hands of small business and promote job growth. How does borrowing billions to increase unemployment benefits, among other things, create jobs? We are no where near out of the woods and if we don't change our direction soon, we may never find the path to prosperity again.

    September 3, 2009 at 5:54 pm |
  190. EugeneWiese Midlothian,Va.

    I hope he says,"We've waited long enough and when I sign my new health care bill there will be a lot of new jobs created because businesses will have money to work with and start hiring..You see without health care business can't operate and create a profit. Health care costs brought down General Motors and many other Mfg. cos. Jobs will go hand in hand with Health care Gene

    September 3, 2009 at 5:54 pm |
  191. John in Santa Barbara

    Jack, we have spent trillions of dollars that we didn't have, and cheer because there seems to be a recovery. Pay back the trillions and that just gets us back to square one. Years ago to get out of debt we took ourselves off the gold standard, now we need to take ourselves off the "I have to pay back my debts" standard. We are in a recession and will probably make it to a depression by the end of the year.

    September 3, 2009 at 6:00 pm |
  192. Fred Dean Weaver Oklahoma City

    Jack NO! America is out of Recession Thanks to Obama and No thanks to Greedy Republicans and BlueDod Democrates Im White Male

    September 3, 2009 at 6:02 pm |