.
October 31st, 2011
12:27 PM ET

Does the weak recovery feel more like a recession to you?

FROM CNN's Jack Cafferty:

The worst recession since the Great Depression may have ended more than two years ago, but millions of Americans aren't feeling much relief.

The Wall Street Journal highlights some sobering economic statistics that explain why this achingly slow recovery feels more like a recession.

For starters, people are making less money:

The income of the median household - which fell about 3 percent during the recession - has dropped another 7 percent since the recession ended.

It's estimated the income of the typical American household - adjusted for inflation - has fallen well below the January 2000 level.

Then there are the jobs: the national unemployment rate remains stubbornly above 9 percent, and almost half the unemployed have been out of work for at least six months.

And having an education doesn't necessarily help. Research shows that since 2009, median incomes of households led by high school graduates, those with two-year degrees and those with bachelor's degrees all fell.

As for the housing market, it still hasn't rebounded: one in five mortgage holders has a loan bigger than the value of their home.

And a new report out suggests the housing market has even further to fall... with home prices headed for a triple-dip. It says by next June home values will have dropped to a new low of 35 percent below the peak reached in early 2006.

One recent poll shows only 1 in 5 Americans think the economy will improve in the next 12 months.

Here's my question to you: Does the weak recovery feel more like a recession to you?

Tune in to "The Situation Room" at 5 p.m. ET to see if Jack reads your answer on the air.

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


Filed under: Economy • Recession
soundoff (120 Responses)
  1. Adam Ratliff

    The american government has done dug their people a hole they cant get out of... this is a depression not a recession the president,along with his cabinet just need to do us all a favor and just resign.......

    October 31, 2011 at 12:49 pm |
  2. MNResident

    What recovery???????

    October 31, 2011 at 1:00 pm |
  3. Ken Victoria BC

    Yes. Is the reason being that big business, the banks and the millionaires hoarding money not the problem. These so called job creates are creating nothings but fattening their wallets. Is the Occupy Wall Street not correct. YES.

    October 31, 2011 at 1:00 pm |
  4. Noel Sivertson Roswell New Mexico.

    I suppose it does to the person who is struggling and looking for work. For those who can afford World Series tickets, ti thoise who are going on Caribbean cruises, and people shopping for new cars I doubt it matters.

    October 31, 2011 at 1:04 pm |
  5. Ed from California

    Until the American voter uses their common sense when voting in our hired help. And stop the hatred towards our President or people less fortunate, or, we'll never recover out of this depression. Our jobs have been outsourced. We have unfair trade and monetary balances w/Mexico, China, Malaysia, etc... When will John Boehner and his ilk start working for the American people that he always seems to be talking about instead of the Koch brothers or Grover Norquist? I don't remember seeing their names on any ballot. I guess money does speak!! Mr. Boehner, "Where are the jobs??"

    October 31, 2011 at 1:05 pm |
  6. s in fl

    You know what it really feels like, Jack? Corporate Feudalism. Lords and serfs. Period.

    October 31, 2011 at 1:14 pm |
  7. Mel - Houston

    I wouldn't know, Jack. I haven't worked in ten years. I'm deemed to old.

    October 31, 2011 at 1:24 pm |
  8. Pat in Michigan

    No Jack .It feels much more like a hostage situation to me.
    Our economy is being held hostage by a concerted effort by big business, big banks and conservative power brokers to manipulate the job market until unions are broken and the working class works for less than minimum wage and pays the burden of taxes for the wealthy.

    October 31, 2011 at 1:25 pm |
  9. Jayne in NH

    Recovery? What recovery? Most people I know don't feel as if the original recession ever ended. Of course, we're not in the top 1%.

    October 31, 2011 at 1:26 pm |
  10. Richard C.

    What recovery, Jack? Unemployment is still high, the government is throwing money away on Solyndra, Beacon, and a car manufacturer in Finland, and Obama and his minions have no clue how to right the ship. Food prices are going through the roof and there are continuous street demonstrations. How do these facts translate into any kind of recovery?
    Malvern,PA

    October 31, 2011 at 1:36 pm |
  11. Doug Ericson

    The economy is running on fumes. Borrowed fumes. Illusionary fumes. Doug. Pepperell, MA.

    October 31, 2011 at 1:39 pm |
  12. Bizz, Quarryville Pennsylvania

    I am retired and on a fixed income so every day feels like a recession to me. The cost of living keeps rising heating oil is outrageous along with the cost of medicine and food. I don't think it would be better even if I was still working. Sometimes I think we're headed to the sweatshop days my parents would tell me about, where people work long hours for little pay with no benefits and in unsafe conditions.

    October 31, 2011 at 1:41 pm |
  13. Rich McKinney, Texas

    What recovery? Unemployment is still at 10 percent. Gasoline is still over $3.15 a gallon. For $40.00 dollars you get 2 small plastic bags of groceries that don't amount to much at the store. Electricity is still unaffordable and if your lucky to have water in drought stricken areas of Texas your greatful. I don't know what world those calling this a recovery live in but it sure as hell isn't mine.

    October 31, 2011 at 1:54 pm |
  14. Alex in Bremerton, WA

    Yes, especially when you are unemployed. Thankfully I just landed a temporary job as a Salvation Army bell-ringer. It will be nice to be a productive member of society again but it is times like these that I wonder why I bothered to get a college degree?

    October 31, 2011 at 1:59 pm |
  15. Aaron

    Well Jack, I strongly believe we are in a double dip recession. Got rid of the first dip in 08, the next one will be gone 2012. Ste. Genevieve Mo

    October 31, 2011 at 2:01 pm |
  16. Annie, Atlanta

    If you have a decent job with some benefits, I doubt you feel the pain like the rest of us do. If you're a banker or investor on Wall Street, you make money out of thin air and get to buy politicians, so you're definitely doing ok. I guess it depends on where you're at on the spectrum. For me personally, this feels like a depression.

    October 31, 2011 at 2:02 pm |
  17. Rick McDaniel

    We have NEVER been in a recession.

    We HAVE been in a world wide depression......and still are. There is little likelihood of coming out of it before late 2014, if then..........since our leadership hasn't any idea of what they can or are, doing, to solve any of the problems that are solvable, and many aren't solvable, with government intervention, at all.

    October 31, 2011 at 2:03 pm |
  18. Andre P

    Jack – What kind of question is this?? What do you think??

    October 31, 2011 at 2:05 pm |
  19. Kevin H SD CA

    YES
    The economy is still being constipated by regulations and litigation that rewards people for having no insight into their own responsibility for themselves.

    Until the banks start expediting foreclosures and getting enough housing inventory onto the market so people with cash and good credit will buy; the parasites of government and corporate welfare will continue to bleed the economy dry!

    October 31, 2011 at 2:10 pm |
  20. Dan in Albuquerque

    Jack, the recession didn't end for some. As statistics show, there are rich people that are getting richer while the middle class and poor are deteriorating. I think a combination of taxes and serious cuts in spending as proposed by the president is the best answer because the ideas from the other side always favor the rich and further damage everyone else, That just exacerbates the income gao.

    October 31, 2011 at 2:25 pm |
  21. Wilhelm von Nord Bach

    WHAT Recovery? Maybe it's happening on Wall Street BUT out there in Las Vegas, which is "Foreclosure Central", It Ain't Happening!!!

    October 31, 2011 at 2:29 pm |
  22. Tom Bulger, Canandaigua, NY

    Lee Lawler lived through the Great Depression. He said the level of hunger and dispossession that was widely suffered then is unimaginable to people today. If President Obama hadn't prevented the depression that so many economists said he could not, we would personally have the experience of depression, recession, and recovery. We would be painfully aware of the differences among the three.

    October 31, 2011 at 2:35 pm |
  23. Kenneth in California

    What recovery? What recession? Why does depression get stuck in our throat and can't say it? The only jobs people can put their hands on for now is the Obama plan, but the Congressional house says no to that. The other jobs people can put their hands on left the country. Everyone talks jobs, but where are they, and what are they? I don't think anyone has a clue.

    October 31, 2011 at 2:40 pm |
  24. Ed in California

    What recovery? Unemployment here is Sacramento is still on the rise with no relief in sight. Are we getting a solar panel factory or something???

    October 31, 2011 at 2:40 pm |
  25. Gary H. Boyd

    Depends on what line of work you're in Jack. If you work at a full service car wash it's a recession since getting one's car washed isn't essential and folks aren't spending money on non-essentials. If, on the other hand, you work at the local Good Will or Salvation Army, business is booming.

    Gary in Scottsdale, Arizona

    October 31, 2011 at 2:42 pm |
  26. Michael "C" Lorton, Virginia

    Jack: Paint it as you see it; weak recovery, recession, technical adjustment; Occupy Any Street--IT HURTS all Americans---and grinning and bearing it; taking two asprins will not RESOLVE-–if we don't CURE IT--it is going to consume us ALL!

    October 31, 2011 at 2:49 pm |
  27. Brad, Portland, OR

    Things are still bad out there. Too bad the Republicans are too wrapped up in their Tea Party ideology to listen to mainstream economists for suggestions about measures that might help.

    October 31, 2011 at 2:51 pm |
  28. Thom Richer

    Jack, to refer to or label this as "weak" is right on the mark. To consider what ever movement has or is taking as a "recovery," weak or otherwise is merely an assumption. What i mean is, there is no sustainable or valid recovery at all at this point. The only recovery has been to the Wall Street wealthy and Corporate Fat Cats. That cannot in all candidness be credited to a recovery for the working class. Not even a "weak" one. New car prices are an insult to the working class. Used car prices are insane and a slap in the face to lower and middle in come workers. Food prices are for the wealthy and well off and out of reach for the unemployed, underemployed and those with more than one mouth to feed. Gasoline prices are near criminal the way they are manipulated to put massive profits in the pockets of oil execs and Congress. It is a blatant joke the way the prices go up and done dozens and more times a month on the whims created by this false economy and Wall Street thieves. When the Market/Wall St. shows gains, it is touted as a good thing economically when in fact all it does is raise the costs of goods and services for the working and non working class. Stocks up...gas prices up. The housing market is run just as is was before the stimulus and remains "plastic" economy doomed to foreclosures by those who have no way to make payments yet are lent the money to buy by the same crooked banks and lenders. "Recovery," Jack? Not actually just weak attempts to convince us of it. America, do not fall for the lies all over again. Continue to fight Wall Street, Corporate America and a failed Congress. We are still at war for no valid reasons because of no valid government.

    Thom Rjicher
    Negaunee, MI

    October 31, 2011 at 2:51 pm |
  29. Sherrie

    No, Jack. It does NOT feel more like a recession to me. It feels more like a Depression. Long-term
    successful businesses are failing at horrendous rates, here. People have no money for anything other
    than necessities, and many don't even have that. Meanwhile, inflation in food prices is getting worse
    every day – less for everything else.

    This is a disaster. Period.

    Sherrie
    Indiana

    October 31, 2011 at 2:56 pm |
  30. ruth creek

    I think you always form your questions the negative hoping for a negative answer. I go out and see new cars on the street, new homes being built and sold, people at ball games movies and biking throiugh the hills. Ther malls and resturants are busy. All the cars parked in the high school and college parking lots and I wonder if this is recession?
    All the people who provide these goods and services are employed. I live in Fayetteville AR and maybe we are just not in tune with the rest of the country. I am sure thew the bankers and politions will find a way to keep us all amused.

    October 31, 2011 at 2:58 pm |
  31. Brian in IL

    To me it actually feels as if we may be on the cusp of Great Depression II if we are not there now. The visibility of the Occupy movement is enough to prove that so many are struggling even though much has been swept under the rug for a long time now. The theme of today's holiday says it all–very scary, predicated on treats for the rich, tricks for everyone else.

    October 31, 2011 at 3:01 pm |
  32. Jk from Minnesota

    I live in an area of the country that hasn't been as affected as much as other areas. I have not felt much impact; it looks like a weak economy in my area. I'm sure where unemployment is much higher it looks a lot different.

    October 31, 2011 at 3:03 pm |
  33. mike halter

    It's hell out there Jack. So many unemployed and our do nothing Congress cant even pass a jobs bill.
    We the 99% are sick and tired of the same old B.S. Do what you where elected to do work for us
    just not the rich and powerfull.
    Mike Largo Florida

    October 31, 2011 at 3:08 pm |
  34. David in Tampa

    What recovery, what recession??? To about 30 million of us in this country it is a Depression. Thankfully, I'm old enough to be able to get on Social Security. Many municipalities are now banning panhandling so there is now one less job option. All the while the puppet masters and their puppet mouth pieces are telling us it isn't so bad or it is our fault not theirs while they seek yet more welfare for themselves in state and the nation's capitals. I may not be the sharpest tack on the bulletin board but I do know when I'm being buried in a load of crap, and its phd time(piled higher and deeper).

    October 31, 2011 at 3:12 pm |
  35. Larry from Georgetown, Tx

    Jack, next year our healthcare cost are going up another 11%. Last year it went up 10 as it did the year before. Plus our deductible went up 30%. Big Ben, the chair of the fed says there is no inflation so I wonder what planet he is living on. One of my favorite staples, peanut butter is going up 30% next month and yet our income is flat so to me that is inflation and the signs of another recession. Plus, where are the jobs that are being created by the super wealthy?

    October 31, 2011 at 3:12 pm |
  36. riley oday

    I think its the new normal for the country. Its not going to be good for many people.

    October 31, 2011 at 3:13 pm |
  37. Bill of New Mexico

    The weak recovery is a nice surprise!

    America's future will have many such weak recoveries,
    but there will be an equal number of recessions–and they will be worse.

    Take some steps for America's future–
    –and for your future:

    A) Save more

    B) Reduce your spending–being alive and healthy is extremely pleasant!

    C) Quit smoking

    D) Eat healthy

    E) Do something really good for yourself that does not cost materially!

    F) Increase self-control

    G) Expend your mental resources on the things you can control!

    H) Today is a good day to be alive.

    October 31, 2011 at 3:17 pm |
  38. Michael Bindner, Alexandria, VA

    No. It is not in recession. People are getting jobs and there are jobs to apply for, provided you have an inside track. The real question is whether we are in a Depression, which has to do with asset value prices at a level below their financing. The answer to that question is yes. The only answers to that are bankruptcy reform, inflation, or monetizing the loans by selling Freddie and Fannie to the Federal Reserve and writing down loan balances and payments, which would be as deflationary as forcing these loans into foreclosure except that families get to keep their homes rather than investors. The governmnet should not be foreclosing on its citiizens.

    October 31, 2011 at 3:19 pm |
  39. Joe the Bummer, Anyplace, USA

    Yes, because everyday the media gives me permission to give up on my job search. Blame the gridock in Washington they say, blame the Wall Street scammers who go us into this, blame anyone or anything but yourself. Complaining about being out of work has become a badge of courage. No point even looking for a job, your buddies say. There's nothin' out there for us, all the jobs have been exported to China and India. Ya, that's it, blame China and India.

    October 31, 2011 at 3:24 pm |
  40. Jenna Roseville CA

    Does the weak recovery feel more like a recession to you?

    No, it feels like a weak recovery. One has to wonder what our nation would have looked like today had the GOP put Americans before their own greed. We could have seen a robust recovery and our nation stronger. But nooooo. They are still whining because they lost in 2008.

    Jenna
    Roseville CA

    October 31, 2011 at 3:30 pm |
  41. Kim Smith

    No. It feels more like corporate America has no desire to help our nation recover from the errors of their ways. This so-called reccession is in all likelyhood the new reality for all Americans. Our government isn't willing to help, and since we can't seem to help ourselves, then I wouldn't look for any positive change, ever.

    October 31, 2011 at 3:35 pm |
  42. Pete from Georgia

    Jack, don't you think it's time to get real about how bad America's economic health really is ?? Recession is way too flimsy a word to describe the pathetic state of affairs today all across America. REAL unemployment is at 20% not some ficticious 9.2% being spoon fed by Washington for political purposes. Our large corporations will exist forever offshore until a new conservative administration slashes strangling taxes and regulations that make it impossible to be competitive in a Global economy.
    We need Free Enterprise to be "FREE" once again.
    Free to operate without crippling restrictions.
    Free to survive.

    October 31, 2011 at 3:42 pm |
  43. Paulette in Dallas

    Yes it does. Many people are cutting back or just doing without. All of the Occupy Wall Street demonstrations should be sending a message Loud and clear to each and every Congressperson that the American People are tired of their nonsense and are Not going to take it anymore. A man serves his Country and then gets beaten because he wanted to practice Free Speech. Our Country is in a very dangerous state of emergency right now and these fools in Congress are in denial about the seriousness of what the people are telling them and showing them.

    October 31, 2011 at 3:42 pm |
  44. Larry in Houston

    Jack
    a weak recovery is just a weak recovery. Once the Republicans get IN, everything will change. Their fellow Republicans and the "Job Creators" (as they so call theirselves) are waiting for another 12 months – then after the actual "swearing in" on Jan. 21st – It will be like Newt said – in his last debate – ( if you recall ) If I remember correctly, he quoted that after the next President is elected in office, there will be jobs – and just about everyone will be hiring everywhere in the U.S. Right now, the Republicans are waiting, & buying their time – because of all the regulations that is strangling the people that are the "Job Creators"

    Have you ever noticed when "the Newt" speaks, he uses the same language such as "profound" or "profoundly" ? He uses this word in a phrase, everytime he debates. Another word he uses in his debates is the word "fundamental" or "fundamentally"

    It seems like "the Newt" is either "profoundly" or "fundamentally" involved, somehow, or somewhere, in all situations.

    October 31, 2011 at 3:42 pm |
  45. Carl

    Jack,

    What recovery?

    October 31, 2011 at 3:42 pm |
  46. David from Herndon, VA

    No salary increase in 4 years, yet the cost of everything is higher (are govt inflation numbers legit anymore?). And we're the lucky ones.

    I guess it's a recovery if you're rich - those guys are doing fine. The rest of us are stuck in the mud, though. Some barely staying afloat, most others drowning.

    October 31, 2011 at 3:46 pm |
  47. Loren

    Recovery? More political spin leading up to the campaign season. At best, this is a breather in the free fall due to Congressional ineptitude.

    October 31, 2011 at 3:46 pm |
  48. Mitoosense Fort Lauderdale, Florida

    Most of us are feeling the Second Great Depression that began in December of 2007. Those who are in recession are those who benefited indirectly from the double standard of TARP 2big2fail or Failed Recovery and Stimulus bailouts.
    The 1% who aren't in Recession/Depression are the direct recipents of Facist TARP and Recovery Legislation that isolates the wealthy from losses, spreading the cost over generations and allows the rich to thrive in perpetuity. Bathing in the sweat of the people's GDP. Depriving the people of the necessary correction that capitalism brings in bankruptcy courts is the mechanism that automatically redistributes the wealth. Those who failed are kicked to the bottom of the economy. Replaced by new more competant people with skin in the game....
    Burma Shave

    October 31, 2011 at 3:59 pm |
  49. Lori - PA

    Jack,

    It's a never-ending nightmare. The middle class and poor find it harder and harder to get by while the rich amass even more wealth. Where's Robin Hood when you need him most?

    October 31, 2011 at 4:04 pm |
  50. Dave, Orlando, FL

    What recovery? All I know is that most of the prices I have to pay for service, technology and goods, especially at the super market are rising faster than I can get out of the way. All the while my income is decreasing, not only in face value, but adjusted for inflation on top of that.

    October 31, 2011 at 4:09 pm |
  51. Jane in CA

    We need to coin a new word – growcession. Parts of the economy are doing just fine – the wall streeters and top 1-5 percent. The rest are going backwards. The whole pie is growing, but the top incomes are taking more than the growth amount and the rest of the people are effectively in recession (or depression, since many will not see in increase for decades). It would be nice if we could elect representatives who actually worked for the benefit of all their constituents, but for now – just get accustomed to getting by with less. At some point, less will become too little to sustain life, and then all hell will break loose.

    October 31, 2011 at 4:11 pm |
  52. Sandstone.

    "A recess is done by the market when it feels in danger, just like you would Jack if you felt your own personal bank account was under threat by the elements! I never feel threatened because I know when to cut my losses. "

    October 31, 2011 at 4:15 pm |
  53. Carla from Alabama

    Let's see. I just brought home three small bags of groceries from a discount market that cost me at least double what I would have paid for the same three bags a year ago. Yeh. Sounds like a recession to me.

    October 31, 2011 at 4:17 pm |
  54. Dennis north carolina

    a weak economy or a recession are in the same level of the economy game. your pockets are empty or the cupboard is bare than we are in trouble!!

    October 31, 2011 at 4:18 pm |
  55. Cy Gardner

    It feels more like grand theft to me. The Occupiers are dead right. We have to stop letting Exxon set our energy policy and the insurance companies set our health policies. This has not worked. Encouraging the rich to feel entitled to pay no taxes and obey no laws has not worked. The Republicans preach the same stupid dogma as the answer to every problem and they still get some of the stupidest people in the universe to believe in them even though their "solutions" have ...NEVER..... worked. cy from arlington, va

    October 31, 2011 at 4:25 pm |
  56. AB

    No Jack, the weak economic recovery feels just like it is–a weak recovery!! If Obama did not implement his recovery strategies like the stimulus program, the economy would have stayed in recession and would then, feel and be a recession. A 2.5% increase in our nation's GNP is neither a recession nor does it feel like one.

    October 31, 2011 at 4:26 pm |
  57. kim

    Recession? What recession? Our government claims it was over in June of 09. For the rest of America, we must of missed that memo. If things keep going the way they are we will be in a DEPRESSION.

    October 31, 2011 at 4:31 pm |
  58. Ann from Charleston SC

    It feels like a slow recovery to me, thanks to the lack of response from Congress.

    October 31, 2011 at 4:31 pm |
  59. Jack - Lancaster, Ohio

    Mr. Cafferty:

    Oh brother, if it is THIS weak, it ain't a recovery !

    October 31, 2011 at 4:33 pm |
  60. David, MS

    The so called recovery benefited so few and most of those were upper income individuals and corporations. There never was a real recovery because we haven"t reached bottom yet. This will seem like the good times compared to what is to come by the end of the year. Without the holiday surge in spending this season the end will fall for many more retail stores and jobs go with them.

    October 31, 2011 at 4:35 pm |
  61. John from Alabama

    Jack: No!! The economy is better today, than when the stock market was at 6500 points. A friend of mine sold his house for a profit. No, this is not a recession. It is a slow recovery, but a recovery it is to me. It's a great day, and America has better days ahead.

    October 31, 2011 at 4:39 pm |
  62. John, Fort Collins,CO

    The weak recovery appears to me to be the product of a weak Congress. A Congress where the Republicans are doing everything in their power to ensure the economy remains in the tank until they get President Obama voted out of office.

    October 31, 2011 at 4:41 pm |
  63. Ralph Nelson

    For the middle class and below it is a recession. Nobody has any money, it's all at the top. The stock market is a joke and is nothing but a casino where the rich hide their money to get their federal taxes down to 15 percent.

    October 31, 2011 at 4:42 pm |
  64. Bob in Kansas City

    No Jack, it feels just like the late 70's where all we were doing back then was taking two steps forward then one & a half back....the only difference this time is how many jobs have been sent overseas in the last 30 years?. That is a tremendous amount of purchasing power that isn't here any more to help raise the needle.

    October 31, 2011 at 4:44 pm |
  65. David Hutchison

    Yes, and we are recessing into a depression. Our House of Representatives is a nightmare, with the Senate following closely behind. We need a non-partisan team to poll American voters, and when the approval rating for either house falls below 10% they are fired... and can never run for any office again. Jack, I think they are under 10% now, so lets start sending the pink slips!

    October 31, 2011 at 4:48 pm |
  66. Bob Meteer

    Jack add up all those jobs lost in the mega-corporations' mergers and susequent layoffs over say the last 10 yrs – then add in the jobs shipped overseas – and the manufacturing jobs lost since 2007 and this equals a permanent loss of jobs. let's also mention the 25-30% which exists of the UNDEREMPLOYED (folks like me) I went from 120K per year in 2003 to $10.00 per hour average over the last 7 years. Yes it feels like a bad recession and a bad dream – but on a bright note the cowboy from Texas is back where he belongs! Regards – Bob in NC

    October 31, 2011 at 4:50 pm |
  67. Gail, Plano TX.

    Jack: Did you watch the World Series? Did you see the multitudes at all the games? Now, those seats cost a pretty penny. Do you watch football each Sunday? Packed stadiums. Doesn't feel or look like a recession to me! And I do not think those seats were occupied by the rich. Plenty of middle class there. So, Jack, I think if you were poor before the crisis, you're poorer now because that's who it has affected!

    October 31, 2011 at 4:52 pm |
  68. Jerry from Johns Creek, GA

    Economists, like politicians, are completely disconnected to the people. Of course this still feels like a recession, because it still is despite what the pundits are pandering. Just talk to the people, talk to the young college graduates who are facing absolutely dismal employment prospects, talk to skilled workers who have no jobs to perform, talk to factory workers who are being forced to cut their earnings to keep their jobs here in the USA, talk to teachers who are forced to teach to a test while their classrooms are being filled with non-English speaking students, simply get your face out of the computer screen and talk to the people. Things are dismal and its old farts like you and me Jack that permitted this to happen.

    October 31, 2011 at 4:52 pm |
  69. Jeff in Minnesota

    Recovery is all in the eye of the beholder. Unfortunately, a lot of people are finding out that you can no longer just show up and automatically expect cost of living and other benefits to just be there. The new job requires real work and delivery of benefits to the employer. No more cruising on autopilot. If you cannot prove you can deliver value, get used to flipping burgers.

    October 31, 2011 at 4:53 pm |
  70. Jerry in Alaska

    Ya can't trust your feelings Jack.
    Look at all the mixed up people that felt the OBAMANATION OF DESOLATION was really a Chosen One that would deliver us with a new hope & change thing to believe in.

    Reality shows that we are in a recession & its just the beginning of the END of America & the worlds economic system which will usher in a One World 'UNION', which will require everyone to join it or suffer further loss unto death.

    October 31, 2011 at 4:54 pm |
  71. LA Belle

    Just feels like thieves and corruption are still at work with no end in sight.

    October 31, 2011 at 4:56 pm |
  72. A L Forsha

    Two things:
    1. The Hakani attack which killed American Soldiers. Get out of the way! Let them kill each other. Wonder what the savings would be on that?
    2. JET Blue Fines: Now there is cause for the Wall Street Picketers. How much will the $5.2 Milllion fine on the airline/ airport stimulate the economy with the fine going to the government? Wonder what the cost of my flight to the islands will cost this year? Fines will not benefit the passengers inconvenienced, nor improve the situation that ocurred. Fines won't prevent it from happening again, Fines won't benefit me when I want to fly. And while the WS Protesters are at it maybe they could get the ridiculous regulations that caused the situation in the firt place repealed. Safety are the regulations we need to enforce, but use some uncommon common sense please!

    October 31, 2011 at 4:56 pm |
  73. Allen

    My income fell eighteen percent. So I cut cost sixteen percent. I have a dog that won’t stop barking so I rented him out to a farmer to keep the raccoons out of his sweet corn garden. The ex-wife said she would forgo the alimony if I washed her cars mowed he lawns, trim her shrubs and rake her leaves. It used to be my house so I know where everything is. But winter is coming and it looks like another long winter in the potato cellar.

    October 31, 2011 at 4:56 pm |
  74. Bill, Harlingen, TX

    Jack,
    Yes! Income down. Cost of necessities up. But who cares the 1%ers are doing great. Income up and taxes down and oh those luscious government welfare payments to us, just great. Thanks 99%ers.

    October 31, 2011 at 4:59 pm |
  75. dave in nashville

    Millions of people live in a perpetual recession no matter what economists or media barons say, so don't forget where you came from unless you had some silverware at birth.

    October 31, 2011 at 5:01 pm |
  76. Gigi Oregon

    Maybe many people are feeling like I do. I blame the Republican party for the nearly 12 years of the down fall of the American life style. First the no regulations on wall street, going to war in the wrong country, tax cuts for the rich, using fear tactics on crimes of terror, instead of "the only fear to fear is fear itself", borrowing money from the Chinese and laughing our grand kids could pay for the war, the bailouts for the bank robbers in reverse (banks robbing the people). Republicans disrespect the President and hold hostage the American people on jobs, education, fire, life and safety, and the goal of making President Obama a one term President. The Republicans are still fighting among themselves with the childishness of the Tea Party. And now my patience has run out. Corporate American can take that car, clothing, gadget, soft dink, fies, threat and shove it. I walk into stores see great sales and walk out. It is not business as usual in many restaurants, and also in many other business. I expect to be leaner and more fit after Spring when we are still fighting that greedy bunch of congress and corporate America. Talk about bulling in school they are learning it from Congress. Recession, depression or stand off whatever it takes for the "People" to say enough is enough...

    October 31, 2011 at 5:01 pm |
  77. Pete from Milton

    Recession, recovery...what difference does it make. A year from now, Republicans and Tea Partiers will control the White House, the Senate, the House of Representatives, and all three branches of our gov't, so if you think things are bad now for the average American, brother, you ain't seen NOTHING yet!

    October 31, 2011 at 5:03 pm |
  78. Sandstone.

    "Soup-bones and rice, today Jack, with yesterdays cabbage! How can a recession hurt me?"

    October 31, 2011 at 5:12 pm |
  79. PiedType

    Lemme guess, Jack. You dressed like the Grim Reaper for the day.

    Susan
    Denver

    October 31, 2011 at 5:16 pm |
  80. George

    No Jack!!! We are Americans... We are coming out of this mess bigger and stronger... We don`t give up...That`s the American spirit... Yo hoooo!!!

    October 31, 2011 at 5:17 pm |
  81. Bill, Seattle, WA

    Yes Jack. And to be precise, a double-dip recession.

    October 31, 2011 at 5:18 pm |
  82. The LP 999

    This is a depression not a recovery, every economic metric points to a contraction, not recovery and not growth.

    October 31, 2011 at 5:18 pm |
  83. Terry Wells -Hoosier Hillbilly-IN

    One 'big' hiccup could put "US" back to stage#1. A sudden contraction of the finanical market, another 9-11, or OWS could have 'us' in the worst one yet!!!
    The 'committee' in charge of fixing our deficit will fail, that will lower our credit rating, and China will want some colateral.
    1st give them all the [special interest] projects our government officials are involved in:
    then let'm { our past & present congressmen} pay China the {ridiclous retirement salaries they recieve:
    that should take care of that!!!
    surplus can go for tax breaks for the middleclass

    October 31, 2011 at 5:18 pm |
  84. Emily

    Theres a recovery? Who knew!

    October 31, 2011 at 5:19 pm |
  85. Nicholas Boucher

    The economy most certainly will not improve in the next twelve months – and considering the field of Presidential candidates, with the exception of Ron Paul and perhaps Jon Huntsman, it may not improve for many years to come.

    October 31, 2011 at 5:19 pm |
  86. Angus Smith

    The recession didn't feel like a recession to me until the media announced "we're in a recession". That's when everyone started cutting back and laying off. Now this, Jack announcing that we are making less money. Hey Jack, SHUT UP!

    October 31, 2011 at 5:19 pm |
  87. John J. Grimes Watertown, Ma.

    What difference does it make what I think? The rich get richer, the poor remain poor and the so-called "middle-class", pays for everything. I have enough to live on for the rest of my life .......as long as I don't buy anything.

    October 31, 2011 at 5:20 pm |
  88. Neil

    Politicians should be addressing the issue of a shrinking middle class and the increase in our nation's poverty. The economy grows because of the middle class, and if the worker's can't buy the stuff they make, the rich will get richer, the poor will get poorer, and the middle class will be between them, many of them struggling to get by.

    October 31, 2011 at 5:20 pm |
  89. Pat - Hampstead, Maryland

    We are in a recession until 15 million more people get back to work. I am sick of hearing about how many major corporations are sitting on cash and not hiring because they cant find qualified employees. I am sick of watching the Republicans say No to every Jobs proposal that comes before Congress. It is a sad day when we as a society have allowed education to become affordable to only the rich. A sad day when the Rich and Corporations pay No taxes. Recession? Hell Jack, call it what it is, a Depression. Thank GOD we still have our Freedom and the right the vote.

    October 31, 2011 at 5:20 pm |
  90. curt

    If we are in a deep recession, it is because the politicians want us to be.
    If our income is down, it is because the pols want it to be.
    if we have a national crisis, it was caused by the pols
    they pass laws creating these problems and then fight (or deny) it.
    I could site more, but you get the idea.

    October 31, 2011 at 5:21 pm |
  91. Tom in Maine

    Maybe we need a new word for it, Jack. If it technically isn't a recession or a depression, how about opression? With an economy in so much trouble and a paralyzed government it can all seem pretty opressive.

    October 31, 2011 at 5:21 pm |
  92. Micky WI

    Honestly, the recovery is just based on numbers, upheld by the rich. It feels like a recession, dad's had to work more, with no gain. Mom got a job because of this. We need people who know money. But then again, I'm only 8 years old, it's problematic that no one takes me seriously.

    October 31, 2011 at 5:21 pm |
  93. maria cinquemani

    Our slow economic recovery is NOT a recession.It is the result of Republican Obstructions on ALL the economic recovery plan the our President has asked them to vote on.We must all remember that the main Republican agenda is to make Pres Obama a "ONE TIME PRESIDENT"

    October 31, 2011 at 5:22 pm |
  94. Jim-Charlotte NC

    Over the many decades I've been alive I have seen good times and bad times but never a time when the people are ready to give up. It isn't going to get better because too many people are worried about one thing, themselves.

    October 31, 2011 at 5:23 pm |
  95. Dan, anchorage Alaska

    Recession. Not one hint of a feeling like anything is recovering whatsoever.

    October 31, 2011 at 5:23 pm |
  96. paul

    as long as the republicans keep blocking everything the president wants to do . they want a recession for their own gain. if they cared about the middle class as much as the upper 1 % that would be amazing ... not going to happen

    October 31, 2011 at 5:24 pm |
  97. Karl in Flint

    Patience people. When Bush was digging this hole I knew it would take long to fill it the to dig it. Of course if the banks, corporations an wealthy weren't hoarding their money it would speed things up. Eventually they will have to get with the program and we'll know that is happening when they let the Tea Party/Republicans start saying yes to something.

    October 31, 2011 at 5:25 pm |
  98. Meg

    Well – obviously they need to redefine what it means to be in a recession. However, the new economic growth numbers are good and if you did not count the newly lost public sector jobs, I have been told our unemployment rate would be closer to 7.5 percent. I wish states would get on the ball and rase the revenue to rehire those teachers and first responders. The loss of those jobs are like a "canary in a coal mine" for the loss of consumer confidence. I often suspect some conservatives in the state legislators realize the damage this causes, but why would they want Obama's numbers to improve? So basically, I feel we are in are still in a recession, but that we really do not have to be. Some are intentionally exerting downward pressure.

    October 31, 2011 at 5:26 pm |
  99. andrew in pinehurst, nc

    If the president hopes that if he continues to tell us that we are not in recession that we'll all began to believe him. He would be right, for a change. We'll all think (and feel like) we are in depression.

    October 31, 2011 at 5:27 pm |
  100. Scott Stodden

    Absolutley It Feels Like A Recession To Me! Thank God I At Least Have A Job And No Kids And Im Able To Feed Myself And Pay My Bills But Everything Is So Outrageously Expensive Including Food, Clothes, Gas, Etc... This Is Unnacceptable For The Government Of The United States To Make Americans Suffer Like This! Thank You George W. Bush For Making Sure That The United States Has Fallen Apart And May Very Well Be Beyond Repair, George W. Bush Your A Piece Of Slime!

    Scott Stodden (Freeport, Illinois)

    October 31, 2011 at 5:27 pm |
  101. WR Jones

    We have people marching in the streets, housing so bad that whole neighborhoods are empty, food prices high and climbing higher very soon, no jobs for the college educated, let alone high school grads, government full of politicians that are so wrapped up in getting reelected they don't give have a clue how to govern, and a country that has been down graded by credit agencies for the first time in modern history... yet those in power still cling to the notion we are fine, no recession, just create some jobs and it will all be great.
    Trouble is we the American people know better, just take a trip to the gas pump and it becomes clear that we are in trouble, when everything in this economy runs on fossil fuels and a President who has done nothing to address the crisis, the elephant in the room... fuel costs, killing the USA, killing the world economy.
    Show me a car that runs on wind, solar, or some other imaginary fuel this present administration is counting on and I'm on board, until then it's oil, let's stop dreaming and do something to fix this world fuel crisis.

    October 31, 2011 at 5:27 pm |
  102. Mike Blaylock

    Part of the reason you have an OWS movement is that for most of us, there has never felt like there is a recovery. In fact, it feels like it's getting worse with the rise in food and energy costs. Unofficial unemployment is in the high teens and my mortgage is still underwater...a lot. For me, things are worse than they were in 2008 and 2009.
    However, things on Wall Street certainly look good. They keep telling us how companies have all this money hoarded and quarterly statements are ok. The bonuses are still getting handed out and economists tell us that the recession is officially over.
    But none of this translates into things that help ordinary Americans.

    October 31, 2011 at 5:29 pm |
  103. JR Washington, DC

    Jack,

    I believe most everyday Americans would question the economists' determination that the Great Recession ever ended. While economists, politicians, and stock brokers might argue we are in a period of slow or stagnant growth, the average American has seen none of it. They are asked to do more, work harder, work longer, sacrifice more and in return they can count on less pay. In fact most of them are told to consider themselves lucky to have a job. No Jack, our weak recovery doesn't feel like a recession, it feels like we never had a recovery to begin with.

    October 31, 2011 at 5:30 pm |
  104. Steve from North Carolina

    YES.YES,YES!!! Jack!!!.....Being a 52 year old professional and unable to find new employment for the last three years, going thru all my liquid assets, and clipping coupons for the first time in my life, I would say HOLD ON!!! We are still in a nosedive and I do not think life is going to be anything like what I envisoned in my elder years!! We are sooooo SCREWED!

    October 31, 2011 at 5:30 pm |
  105. Emily W.

    If the recession ended 2 years ago, I certainly haven't been able to tell. The only difference is now that I have my Bachelors Degree, I am nowhere closer to having a job then when I didn't have a degree. People my age who are now unemployed, went to College because WE WERE TOLD to go, so that when we did graduate we would have the opportunity to start a career. Why is it so important to have a degree when you can't even use it? Why are people with degrees working at minimum wage just to be able to pay the bills? That's because the recession isn't over, it's only just beginning.

    October 31, 2011 at 5:30 pm |
  106. CAMILLE BENJAMIN

    The economic situation is getting worse. It took 25 years of bad government practices to get to this point, it may take just as long to come back. Our Importing policies are killing us. We are totally dependent on world trade so we are not barefoot and gasolineless. The jobs that are lost are not coming back and we will not have the money to support China's economy any more. They have sucked us dry. High tariffs on imports will bring back jobs when it can be made here for the same price. Then we can pay back China and the abandoned factories will be humming with life again.

    October 31, 2011 at 5:31 pm |
  107. Jyothi, St.Louis,MO

    The weak recovery looks positive to me. We, the Americans have a lesson to learn from this slow economic recovery. We will learn from our own hardship and we will have this lesson to adapt in our lives, to teach our kids and grand kids. The lesson is about how to live our lives when the economic times are good.

    October 31, 2011 at 5:31 pm |
  108. Sondra Madero

    This is a recession caused by the political pandering going on in Congress. It is financial sabotage by the Republican party at the expense of the health of America's economy. VOTE THEM ALL OUT OF CONGRESS! Housewives and small business accountants would do a better job.

    October 31, 2011 at 5:32 pm |
  109. John S

    Jack,
    Recovery? I have been at of work for over a year, as are half of my middle aged friends. I am a college grad with a computer science and finance degree who was outsourced for someone half my age working in India at a fraction of the cost to my ex-company ( A US Bank that was bailed out ) that gets federal subsidies and tax breaks galore. Unless a recovery means "where am I going to find work at age 53 when no one will even respond to my resume because I have too much experience", I am pretty much experiencing & feeling the recession, not a recovery. I have four children who would also all like to go to college ( like my wife and I did ), and we are trying to fathom how we are going to get the funds to afford 50K a year for even one of them to attend University when our after tax income amounts to less than that now. I guess we will be llving out of our car if our kids are to get an education. Recovery? yeah maybe for the family in India that got my job. Now we know what Occupy Wall Street is all about ....we are in a Recession, and vnever got out, and I am still waiting for my bailout....or even better, a JOB.

    October 31, 2011 at 5:32 pm |
  110. Bill in Rotonda Florida

    I'm 62. My mortgage is upside down, my bank will not refinance my loan, my dollar is paying less and less of the groceries. And now they are talking "triple dip". Even my Prius is thirsty. Yes, I think we are in a recession.

    October 31, 2011 at 5:34 pm |
  111. Steve from North Carolina

    Jack...It's the "D" word...."They" just don't want to tell us.

    October 31, 2011 at 5:34 pm |
  112. Pieter

    Are we recovering??
    The current economy is constant, but with a tendency to dip further down instead of growing.
    I personally think the main problem is the lack of investments by the large corporations domestically. Can you grow a business without investing?? Please.
    All large corporations are reporting billions of profits, quarterly. Are they reporting exactly what portions are invested in this country and how, as well??
    The current administration and congress need to work harder WITH these large corporations to get them to invest more here versus abroad. The government has a very weak position when it comes to negotiating this with corporate America because of the tremendous national debt, while these global companies have all the funds. Can you really tell someone who has all the influence and money what to do? Investments in time will create jobs... If well ever see investments. There clearly needs to be more regulation since these multinationals don't care who is employed and when and where profits are generated. In the meantime due to poor regulation citizens with degrees or not are being robbed still.
    Inappropriate fees and charges that can't be fought are still charged to people who can barely afford these, without receiving anything in return for this. This GREED, takes money out of the economy and is used to generate profit reports showing nothing but growth in a nasty economic climate.... How does that work??! I sure am not reporting any financial growth in my personal life in this economy and I'm sure there are many more.... Support the Occupy Movement to flatten the world and level the playing field. This is not socialism, liberalism or communism; companies NEED to make profit and SHOULD BE ALLOWED TO DO SO, but so should we Americans!!

    October 31, 2011 at 5:37 pm |
  113. curtis in philadelphia

    They say all politics, economics are local; I just got a full-time job and I will be hiring 5 employees in this new job, for myself and the five I will hire, the economy is turning around. Imagine if the House would get to work themselves and start creating jobs, as opposed to obstructing anything and everything this president puts forth. Imagine where we'd all be if the Republicans weren't intent on making this (one) president unemployed and actually do something for the millions who are currently unemployed.

    October 31, 2011 at 5:38 pm |
  114. the_dude

    The obama govt is waging a sucessful war against the middle-class. Obame will take every last cent from us if it is the last thing he does.

    October 31, 2011 at 5:39 pm |
  115. KIMMI S

    recovery
    I hardly think so .I own a business and its a pretty good indicator of growth and its not happening
    in fact its going down. Something needs to happen soon or I will add to the problem with 13 and myself unemployed
    furthering the problem
    recovery Bah Humbug

    October 31, 2011 at 5:40 pm |
  116. Kevin in CA

    No, it seems like the continual decline in the standard of living we've experienced for the last decade and will continue to experience for at least the next decade.

    October 31, 2011 at 5:44 pm |
  117. Cliff Glass - Rego Park, New York

    It makes one wistful for Angela Merkel and her resolve in getting European banks to write off 50% of their Greek loans. If only we had poiticians that placed national good over personal enrichment, maybe I'd be more optimistic.

    October 31, 2011 at 5:45 pm |
  118. Ken from NY

    It's time for people get engaged in what's going on....Vote and buy american products..

    It's only going to get worst from here, even those who NOW have JOBS!!!!!!!!!!!

    October 31, 2011 at 5:47 pm |
  119. midtownATL

    Umm.... ok, so some say it will hit poor people hard? If they are that poor, how can they afford to pay $5-$10 for a pack of cigarettes ($150-$300 per month on average i'd say) or $3-$4 for bags and boxes of Oreos and Potato Chips? I'm so sick of people pulling the "poor" card every time someone comes up with an idea to help out on something. UGH!!!!

    October 31, 2011 at 5:51 pm |
  120. James Lansberry

    The economy of the country needs to change course. We need to create a chain of stores that sell exclusively American made products. Reduce the trade deficit. We can grow at 10 percent each year like the Chinese if we run the economy correctly. You should interview me, I am very skilled with numbers. Chairman of the Focused Growth Party.

    October 31, 2011 at 5:52 pm |