September 16th, 2010
05:00 PM ET

Stuck in a recession that won't end soon?



FROM CNN's Jack Cafferty:

Most Americans think the U.S. is stuck in a recession and they don't think the economy will improve any time soon. A new USA Today/Gallup Poll shows 82 percent of those surveyed say the economy is still in a recession.

54 percent expect things to be the same or worse in a year. That number is up sharply from 35 percent who felt that way last year.

While 45 percent say the economy will be better or fully recovered in a year, that number is down from 65 percent last year.

The poll shows Americans' negativity about the economy has grown; with Republicans, Independents and Democrats all sounding more pessimistic about the future of the economy than they were one year ago.

And you don't have to look far for reasons. Although the economy has posted four consecutive quarters of growth - that growth has been sluggish and inconsistent and weak.

Then there's continuing high unemployment - close to 10 percent - along with soaring underemployment. And, as we told you yesterday in the Cafferty File - poverty is now reaching record levels not seen in decades in this country.

All this goes to show why Americans see the economy as the most important problem facing the country... and the most important issue to their vote.

No doubt President Obama and the Democrats face an uphill battle in proving to the voters - ahead of the midterms - that the billions of dollars spent to help jump start the economy are actually doing that.

Here’s my question to you: Are we stuck in a recession that won’t end any time soon?

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
soundoff (175 Responses)
  1. Kevin in Dallas

    Yes we are. Hopefully it will mean lasting prosperity when we do come out of it though. Quick fixes never last.

    September 16, 2010 at 3:03 pm |
  2. Pete from Georgia

    The recession will start to shrink on Nov. 3, 2010 and be really ready for the trash barrel by Nov. 2012, the day after Barry Obama is given his passage back to Indonesia where he can start organizing neighborhoods.
    Something he is qualified for and understands.

    September 16, 2010 at 3:09 pm |
  3. Conor in Chicago

    This recession will turn to a depression. Then there will be civil unrest in the United States, then there will be the Third World War. Don't pretend like this turns out any other way Jack. I am not saying this religously as some sort of believer. It is simply the only logical way for it to turn out.

    September 16, 2010 at 3:09 pm |
  4. Loren

    Hate to say it, but I see little from either the Democrats or the Republicans to suggest that it will end anytime soon. The Republicans are fixated on allowing the richest to do whatever they want and the Democrats are fixated on social programs that can't be paid for. Maybe both parties need to fixate on the one group that keeps the engine going - the middle class.

    September 16, 2010 at 3:12 pm |
  5. Geri

    Personally? We are doing just fine. However Jack, it isn't unusal for real estate to travel in seven year cycles and it's not uncommon that at least five years pass to begin recovering from this kind of economic disaster that began three years ago. We will all just have to bite the bullet or simply grin and bear it.

    Geri, Mead, OK

    September 16, 2010 at 3:14 pm |
  6. Tom in Desoto, Tx

    I don't know if a recession will end soon but spending on the military is not necessary. To much has been neglected domestically for most of a decade due to needless spending in Afghanistan and Iraq.

    September 16, 2010 at 3:15 pm |
  7. southerncousin

    It won't end as long as there is no hope and our money keeps being squandered by giving it to union executives and left wing nut organizations that supported the president in his election. Ask yourself when did the Democrat party take control of Congress, when did they pass the minimum wage increase and when did the recession actually start. I believe it is really pretty easy to pinpoint the reason we are in this recession if you connect the dots. In order to improve the condition, we have to get rid of those that gave it to us.

    September 16, 2010 at 3:19 pm |
  8. Rick McDaniel

    No. We are stuck in a depression that has no end in sight.

    The politicians refuse to call it what it really is.......a bona fide depression. Maybe not as bad as the Great Depression, but a depression nevertheless.

    The reason it has no end in sight, is there are no jobs, and little prospect of any being created.

    My original estimate of no meaningful recovery until 2014, is still very much possible, and it could even take longer, if we come out of it, at all.

    September 16, 2010 at 3:20 pm |
  9. Knick Maverick

    I believe we are in the right track. Unfortunately is not fast enough for those who are struggling @ this time. Thank the Republicans for saying "No". You are seeing the results of what capitalism is... the rich gets richer the poor get poorer. Don't want to give higher taxes to the rich? Government needs to find a solution that they invest in America or create jobs in America & not sending it overseas. Something has to give. Having the best of both worlds is hurting the non-wealthy Americans & prolongs this recession. Ask China or India if they are in a recession?

    September 16, 2010 at 3:25 pm |
  10. Olga

    Most of us are afraid. Pure and simple.

    Failing to realize that fear paralyzes us, we tend not to buy, not to borrow, not to lend, not to support and not to grow.

    When you don't move, even your body atrophies.

    It seems to me that it explains fully why our nation is inert.

    Austin, Texas

    September 16, 2010 at 3:25 pm |
  11. JIM California

    We are in the worst recession ever. Only the Great depression was worse. It makes the previous worst recession from Jimmy Carter in 1979-1982 look like a booming economy. The way things are going it will probably last for the next 3-4 years. Thank you President Obama

    September 16, 2010 at 3:25 pm |
  12. Jorge in New Mexico

    Our economy would be as badly off as it was during the Great Depression if it weren't for the government stimulus program, and all the other government programs that existed before, like FDIC bank insurance, Social Security, Medicare, foodstamps, WIC, etc.

    The economy is terrible, but it could have been much worse.

    What scares me is if the Republicans win big in November and they prevent any more government support of the economy because it "increases the deficit". Although increasing the deficit by $700 billion to give tax cuts to millionaires seems to be OK with them.

    Anyway, if that happens, we may find out what a Great Depression really feels like.

    September 16, 2010 at 3:35 pm |
  13. Ed from Port Aransas, TX

    Yes, proving that the Stimulus wasn't big enough. It's ronic thing that the political party that got us into this mess and has blocked efforts to get us out, may be returned to political power because of it.

    September 16, 2010 at 3:35 pm |
  14. Joe CE

    It will appear to end within 2 years based on business but without FAIR trade unemployment will be high and the average earnings will continue to slide.

    September 16, 2010 at 3:39 pm |
  15. Gordon NJ

    We are if the Republicans keep channeling Herbert Hoover in their efforts to make sure Obama never succeeds. The party of "No" needs to put America's needs ahead of their desire to win elections on behalf of the top 1%.

    September 16, 2010 at 3:42 pm |
  16. Bizz Quarryville Pennsylvania

    Jack I am afraid we're in a recession that has very little light at the end of the tunnel. I don't think the general public realizes how close we came to a worldwide depression two years ago. There was a deep wound left that will take quite a while to heal. The great depression took World War II for it to end. With a do nothing Congress that will not improve after the election. There is little hope of this recession ending anytime soon.

    September 16, 2010 at 3:46 pm |
  17. Leslie

    Yes we are. The reality of it is until the government gets its act together and uses the rest of the stimulus package to help homeowners so they can get low interest loans from their local banks at low interest rates we will be in this recession for a long time. I cannot for the life of me understand why we are not doing this. It stimulates local economies and it will in time create sustainable jobs. Mr. President please stop the madness of trickle down economics it's no longer working. Its time to rebuild the local economies in order for the greater economy to prosper.

    September 16, 2010 at 3:48 pm |
  18. Gerry

    The recession would end sooner if we weren't faced with a deficit that keeps increasing daily. On the other hand we have an administration that is telling us the recession has bottomed out which isn't supported by any figures but their own. My question to you Jack, would you buy a used car from Obama or Biden?

    Ash Fork, Az.

    September 16, 2010 at 3:50 pm |
  19. Kathie

    You betcha! With the stalemate in Washington, the preoccupation with getting reelected, the obstructionism of the republicans and lack of a spine by the democrats, irresponsible spending, the refusal to actually have a budget, the failure to budget wars, home foreclosures, job loss, increased outsourcing of our jobs, etc our elected nonrepresentatives have lost sight of the fact they are supposed to be representing "we the people". We need term limits!!!!

    September 16, 2010 at 3:55 pm |
  20. Tommy in Abilene,Texas

    The recession is not going to end until we see Made in America products on our Walmart and other shelves once more.I wonder why Congress can't see what the rest of us plainly do:American manufacturing must be brought back by our lawmakers passing legislation favorable for businesses to do so or we will forever be paying unemployment benefits to the new (not by their choice) underclass.

    September 16, 2010 at 3:59 pm |
  21. Angela Savage Austin

    Of course we are stuck, when to move forward you must first get out of the sink holes Republicans plant in the road ahead every effort President Obama push forward.

    September 16, 2010 at 3:59 pm |
  22. Mario (Phoenix, AZ)

    The recession will end sooner than anticipated. We'll then enter into the Mother of All Depressions and that won't end up soon. And when it does end, we will be just another banana republic!

    September 16, 2010 at 4:03 pm |
  23. Ray in Nashville

    Jack, this is no surprise. Recessions do not end overnight. This crisis has been coming our way since the early 1980's and we may be in it for some time to come, no matter who holds power in Washington.

    September 16, 2010 at 4:03 pm |
  24. Rich McKinney, Texas

    I think we are smack dab in a recession that is going to last for at least the next 10 years and that is if our politicians start taking measures tomorrow to get us out of the state we are in. No politician has an answer and a s a collective group they are more worried about saving their own asses then the are about saving America. We can point fingers all we want but that does not solve the problem and is a waste of time and energy. What our government needs to do is get off their collective asses and get people back to work in this country. No work means no tax revenue period. It is no longer about us or them. It is about sink or swim. Our politicians have sold us so deep in debt we may never get out of it. Mean while our property values drop and our unemployment rate climbs.

    September 16, 2010 at 4:05 pm |
  25. Alex in Gig Harbor, WA

    Although growth is slow, the recession is technically over.

    September 16, 2010 at 4:05 pm |
  26. Dennis north Carolina

    the answer is yes and the reason is one party is not in control of both houses of congress and the president's office. republicans want the president to fail unlike the democrats when the republican president was in office.

    September 16, 2010 at 4:07 pm |
  27. Dennis from Minneapolis, MN

    No it will not end soon. This is a long term issue and a couple greedy people are convincing multitudes of uneducated people to fix it with short term solutions.

    September 16, 2010 at 4:16 pm |
  28. oliver

    Short answer: Yes. Why?
    1. Companies are not penalized for shipping American jobs overseas, in affect they are rewarded due to our suicidal "free" trade agreements and relaxed tax laws that allow them to avoid paying most taxes altogether.
    2. The bailout loan that was given to them by the American taxpayers didn't require them to invest that money to create jobs in America.

    Summary: "We are moving the company overseas. Great! We'll be more profitable and won't really have to pay taxes anymore, but be sure to wear your American flag lapel pin in public to show how patriotic you are. Wait you say the American taxpayer is going to lend us money to stay in business too!? We don't even have to spend it to create American jobs? Hooray! Let's plan our next company outing for the Cayman Islands.

    September 16, 2010 at 4:16 pm |
  29. Ed from California

    The repeal of "Glass-Steagal" has devastated our country and the world's economy. What a huge Ponzi scheme that we all got sucked into. Stuff that we made here with American workers are now being made in communist China. When the market crashed in 1929 it took us all the way to 1941 when WWII began. We have a lot more people living here in the US now than we did in 1929. We have to get all of our outsourced jobs back, congress is working on that now(my congressman answers my letters). It's going to take many, many years before we get back to the new normal.

    September 16, 2010 at 4:18 pm |
  30. Frank DeNiro

    I’m afraid we are. Even if we see some short term signs of recovery it will be a result of the middle class borrowing or spending money they don’t have for things they either don’t need or shouldn’t have to be burdened with such as health care and college education. Why don’t we just give the working middle class a bail out just like we did the big corporations then we can say OK now we all got help from the government let's move forward. Otherwise we will be paying for debt we received nothing for. Tea Partiers just don't seem to get this point.

    September 16, 2010 at 4:25 pm |
  31. JOE

    What recession Jack? A few decades down the road when we are all working for a dollar and a quarter an hour, and living in cardboard shanties, we will be looking back on the turn of the century as the good old days when someone other than the top two percent could actually own a home, drive a car, and even have some meat, with there patatoes. Why do you think they call it the American dream?

    September 16, 2010 at 4:30 pm |
  32. Dee in New Paris OHIO

    The phrase "harbinger of doom" comes to mind. And not just for Reid, but for the whole country. NOT that I like Harry Reid all that much, but if he loses to the Tea Party candidate, and if other Democrats do likewise, we are all in for trouble.

    September 16, 2010 at 4:32 pm |
  33. Chandler in Rockaway, NJ

    I wish it was a recession - that would imply it will eventually end. For the former middle class, jobs have been lost that will never come back. A few people have accumulated fabulous wealth, and are using it to control the government, like the the pair of oil billionaires who are fueling the so-called Tea Party. This country doesn't resemble the country in which I grew up so much as it resembles France in 1789.

    September 16, 2010 at 4:32 pm |
  34. hurricanepaul from Hawaii

    Jack, if you added up all of the gold the United States owns, it would add up to $280 billion...or ONE FIFTY SIXTH...that's 1/56...of our National Debt.

    Our elected officials have SPENT 56 TIMES THE VALUE OF ALL OF THE US GOLD RESERVES...and what exactly do "we the people" have to show for it?

    September 16, 2010 at 4:40 pm |
  35. Chaney. La.

    Jack the severity of the recession warranted a larger stimulus or second stimulus, according to many econmists, we are not gonna get another, so its going to take much longer for our economy to recover.......and given the fact that the GOP has done ......nothing... but confuse the issues..... and sabotage all ideas..... we are mired in muck.....

    September 16, 2010 at 4:43 pm |
  36. Remo, from beautiful downtown Pflugerville Texas

    Yes Jack we are. My question is, who's going to pay for all the recovery spending? I'm tapped out, the governments tapped out, how come they can still spend and I can't?

    September 16, 2010 at 4:45 pm |
  37. pat in michigan

    We are stuck in a recession until workers unions are broken or outlawed and every middleclass worker does so for 12 dollars an hr with no pension or medial benefits.
    The middle class have been forced to bail out rich wallstreet crooks who gambled with middle class workers pensions . The bankers and wall street brokers lost nothing .NOTHING!!!!!!
    do you think they will release taxpayers money to the same taxpayers who will pay for 100 years to bail them out.NO SIR!
    This recession will last until the working class has lost everything they have worked their whole life to achieve while the rich and elite go off to nantucket for the weekend on their sailboats.
    Didn't this happen somewhere before in history....Oh yeah ...the bolshevic revolution I think?

    September 16, 2010 at 4:46 pm |
  38. Jerry Johns Creek, GA

    The recession will not end very soon. We have spent an enormous amount of money on projects that were right from the House and Senate pork barrel proposals. They made a lot of fat cats happy but the rest of us will have to bear the burden. The housing industry was destroyed by government interference in banking by supporting and encouraging banks to make risky loans, the manufacturing sector was destroyed by a government that made trade agreements that took jobs away and also encouraged outsourcing of our technical power base. The USA simply has a new economy given to us by Washington that we will have to be comfortable with for a long time possibly two generations. We must return the power to the people and keep politicians focused on politics and not business, both sides are incompetent.

    September 16, 2010 at 4:47 pm |
  39. Allen in Hartwell GA

    Yep Jack, we're stuck in a recession alright, and as long as the businesses sit on their money and rake in large profits we'll stay stuck.
    The right-wingers and big business defenders say that businesses are "too worried" to invest in getting back to business. I say that they're acting like spoiled children – holding their breaths until they can get their way.

    Their way is to get President Obama out of the White House. I never thought we'd come to this in this enlightened country.
    Hartwell, GA

    September 16, 2010 at 4:48 pm |

    tampa, fl until our politicians stop spending our tax dollars like monopoly money, stop being expected to be treated like royalty and end their exorbitant salaries & perks, stop companies from leaving the usa & importing all of their goods, stop offshoring their businesses to avoid taxes, stop all immigration, and deport those here illegally that are draining our tax dollars and fining the greedy employers that hire them, we will not get out of this depression (it stopped being a recession a long time ago).

    September 16, 2010 at 4:53 pm |
  41. bud rupert

    YES WE ARE and there is nothing either party can do about it regardless what the politicians tell us.. Hell Jack most of them don't even balance their own check books but they are on the hill spouting off John Maynard Keynes and Adam Smith economic theory like they know something. NOBODY KNOWS! Tax cuts, tax increase, more stimulous, less stimulous, PLEASE. IT's a guess at best

    History lesson: FDR through everything including the proverbial kitchen sink at the depression for 10 years. 10 years! And, what finally got us out of the ditch? WW II. That's a fact Jack

    September 16, 2010 at 4:54 pm |
  42. Mike, NH

    Yes. It's clear that the stimulus was one big fat failure, and Obama has no plan B.

    September 16, 2010 at 4:58 pm |
  43. ~BEVERLY~Mystic,Iowa

    No. The C.B.O. & almost every economist agree that it ended more than a year ago, & we are now in a period of growth. Also, check with them, (CBO.gov), to see their estimates as to where our economy would be if Republicans were in office, or if Democrats didn't do anything. CBO states that the Recovery Plan, (Stimulus Bill) was a HUGE success, more than anyone could have imagined. If anyone would know, it's the Congressional Budget Office. For details, you'll have to contact them.

    September 16, 2010 at 4:58 pm |
  44. Charles in Ohio

    Jack: We the people have spent our way into this recession and now we have to pay our bills and save for our future. That will end this recession. We can blame everyone but we did it to ourselves. When we all grow up and look in the mirror and say to ourself I caused it by my actions. I spent too much, I voted for bumbs, and now I want a bailout. We need to get a life!!! Then the recession will be over!!

    September 16, 2010 at 5:00 pm |
  45. ben stockton, calif

    lately theres a hint that we are recovering but very slowly. americans will vote their pocketbooks in the next election. a t this point we need to bite the bullet , get real frugal and just wait it out. im worried that the tea party people will get in there and mess with social security that we have paid decades before. there are other ways to eliminate wasteful spending. start with welfare, defense spending, eliminate or drastically cut foreign aid. we need help in our country , not abroad. charity begins at home.

    September 16, 2010 at 5:01 pm |
  46. paul

    The bankers are doing OK
    Ames iowa

    September 16, 2010 at 5:03 pm |
  47. Judy - California

    I don't think a complete recovery is emminent until the housing market becomes whole and unemployment shows consistent improvement. The banks are not loaning money to provide small business with the capital it needs to expand and provide jobs. I do not believe a crash of this magnitude can be fixed in two years, but I do think the dems have to pull something out of their hat for the midterms and 2012 to keep the perpetrators of the problem from assuming office once again.

    September 16, 2010 at 5:06 pm |
  48. Jane (Minnesota)

    If the gridlock in Washington doesn't end and Washington doesn't do what's best for the entire country instead of the special interests, then recovery is going to take a long time – sad to say.

    Term limits, anyone?????

    September 16, 2010 at 5:07 pm |
  49. Anthony from NJ

    The republicans have been putting their heads in the sand for almost two year now not giving a damn about the recession. They and their wealthy business friends can easily weather the storm until they get back the controls and improve their monetary status. The naive middle-class can't wait to bring them back and let them run havoc on the economy again to enrich themselves. If September turns out to be GOP landslide, the recession will be irreversible.

    September 16, 2010 at 5:08 pm |
  50. Delia, Katy, TX

    No, Jack we're stuck in a depression. It is not the "technical" financial depression, but it is indeed a depression. Employees are depressed with low wages and decreasing their standard of living for the past decade. Employers are depressed with the lack of spending by consumers. It's a "Catch 22". Employers are making things worse by taking advantage of the high unemployment numbers by driving down wages. If you don't make a living wage, you can't consume more products. It's a real circle-jerk!

    September 16, 2010 at 5:10 pm |
  51. Frank DeNiro

    I’m afraid we are. Even if we see some short term signs of recovery it will be a result of the middle class borrowing or spending money they don’t have for things they either don’t need or shouldn’t have to be burdened with such as health care and college education. Why don’t we just give the working middle class a bail out just like we did the big corporations then we can say OK now we all got a gift from the government lets move forward. middle class borrowing or spending money they don’t have for things they either don’t need or shouldn’t have to be burdened with such as health care and college education. Why don’t we just give the working middle class a bail out just like we did the big corporations then we can say OK now we all got help from the government let's move forward. Otherwise we will be paying for debt we received nothing for. Tea Partiers just don't seem to get this point.

    September 16, 2010 at 5:10 pm |
  52. Luci

    We were in a big recession on Jan. 20th., 2008. President Obama is getting us out of it, let's give credit where it is due.
    If the voters are smart, they won't put the Republicans back in. They will immediately put the Bush tax cuts back in and the recession mess will return.

    September 16, 2010 at 5:11 pm |
  53. Herb - Tampa, FL

    The Ship of State is hard enough to turn around in calm waters. In the economic storm caused by fraud and malfeasance that the GOP crew sailed us into, it will take much longer. All hands are on deck. Even so, it will probably be until late next year before we see some sunshine, again.

    September 16, 2010 at 5:12 pm |
  54. richard in Montana

    When you destroy the middle class as the great American business machine has done over the last 30 years by exporting our high paying jobs overseas and destroying our manufacturing base by moving everything else offshore, what do you expect? Couple that with the doom and gloom reporting by members of your news organization (and the others in the same media are just as guilty) how do you expect the collective conscience of the population to perceive that our economy is getting any better?

    September 16, 2010 at 5:12 pm |
  55. Karl from SF, CA

    Of course we are in a recession, it doesn’t take a poll to figure that out, but we aren’t stuck. If we were stuck we wouldn’t be recovering, however slowly it is, would we? This recession is the result of eight years of grossly mismanaged government with unfunded tax cuts along with increased spending. Only mindless fools and Republicans would think the economy should be fixed at no additional cost and in less time than it took to ruin it. We are in for a long haul.

    September 16, 2010 at 5:12 pm |

    NO. Everybody I know have a job and is working. All the people that is saying that the economy is in the toilet also have a job and is working. So, who are these people that is destitute and can't find work? Target, K-mark, Jo-ann Fabrics and a host of companies have help wanted signs in their window.


    September 16, 2010 at 5:12 pm |
  57. NCW

    This will easily last 10 years, the "media" and the politicians do not want to admit this. Welcome to 10 years of Hell.

    P.S. not a recession, but a Depression

    September 16, 2010 at 5:13 pm |
  58. Tish Forsyth

    It will get worse before it gets better just like mom always said!

    September 16, 2010 at 5:14 pm |
  59. Fred Quinn

    I do not think that we are stuck in a recession. Americans believe that this administration could come in and fix the economy with the snap of their fingers. Healing takes time! The economy will get worse before they get better.

    September 16, 2010 at 5:15 pm |
  60. honest John in Vermont

    The fundamental problems which got us into this whole mess have yet to seriously be addressed and I expect no real recovery until the banks and Wall Streets insaitable greed is reined in by legislation and real enforcement. Otherwise we will continue to be flatlined as we are today and this "recession" will not end for years.

    September 16, 2010 at 5:15 pm |
  61. Ralph Spyer

    It took Japan ten years to get out of recession,we did not get out of the great recession till world war two. How many jobs have we sent to China or Mexico.Reagan Killed all antitrust-enforcement now we have Monopolization and the end of the middle class. Capitalism without bankruptcy is like christianity without hell.

    September 16, 2010 at 5:15 pm |
  62. Jay Clancy

    We are if you keep telling people that we are.

    September 16, 2010 at 5:15 pm |
  63. Wye

    It took Reagan 19 consecutive months to get out of over 9% unemployment, Obama has about 2 months more to go to match that, after which the recession should start to recede and happy days will be here again. That's if it all goes according to Reagan's plan.

    September 16, 2010 at 5:16 pm |
  64. David B.

    Mr. Cafferty:

    I understand and respect no American wants pity from an outsider, but my pity is for Washington who have put the power struggle front and centre above the real needs of the proud American people. Greed by government and big business ( one and same) fueled this recession and the same greed rewarded them. Jack it seems like yesterday when CNN broke the news they required 100's of Billions to save the economy REALLY? Stuck yes but not the rich and powerful they want more and it appears they just might get it.

    September 16, 2010 at 5:16 pm |
  65. raybenz

    An unemployment rate of 11%(record levels) unreported homeless people.. Obama hasn't resolved the healthcare, the economy is in the worst shape it's ever been, the Bush tax cuts end this fiscal year! Over seas tensions escalating, brace for... a possibility of War with Iran!! The Stock market confidence at an all time low... Less spending Consumers rather stay home than travel, a crossborder issue concerning Mexican illegals, the failing grades of students reflect the poor teaching practices of teachers at around 6000 schools across the U.S. Millitary spending at about $20 billion a year, California's (i o u)'s a stimulus package at around $700 billion repair America's ageing infrastructure, A DEBT. of about $13,000,000,000,000,000,000 Trillion dollars OWED TO CHINA AND AROUND 20 OTHER COUNTRIES A DOUBLE DIP RECESSION THE END.

    September 16, 2010 at 5:16 pm |
  66. Orvil Tice

    Let's see bail out banks..no pay back. buy GM close dealership and increase jobs in China. CNN replaces Larry King with a Brit. YEP...We are in this recession for the long term. Every rubs their own palm and still no jobs.

    September 16, 2010 at 5:16 pm |
  67. Michael n Seattle

    If the republicans would let us legislate the recession would be over soon and jobs would be growiong. But why make the hey making the president look good when their plan from day one was to put this country in depression.the more the people suffer the better they think they are it could be over next November but Why?????

    September 16, 2010 at 5:17 pm |
  68. MMorning

    Are we in a recession? Well, let's see...

    Tens of thousands of jobs continue to be lost each and every week...

    1 million or more legal immigrants continue to flood into the country annually, each demanding jobs...

    Thousands of Americans turn 18 and enter the workforce every day...

    But there are no jobs! Where are the jobs? Where's the purpose of spending all this bailout money on Wall Street?

    It's not a recession I'm worried about; it's a depression!

    September 16, 2010 at 5:17 pm |
  69. CC

    It will get worse....especially if we get the Tea Party or Republican candidates in there in November....NOTHING will get done. They destroyed it in the first place. We all got "Bushwacked"!

    September 16, 2010 at 5:17 pm |
  70. Alice

    i don't think economy will turn around soon. Obama has his own ideology and legacy in mind. Why would he spend precious energy and months on health care as his one and only priority instead of the economy and jobs? He doesn't get it...he's too left, and the republicans are too right. Where is the common sense middle? don't raise taxes on anyone right now, and give incentives to businesses to hire.

    September 16, 2010 at 5:17 pm |
  71. Larry from Georgetown, Tx

    Hi Jack. Yes, and the long term will unfortunately be worse as we lose more and more solid manufacturing jobs and become a socialistic society to the Nth degree. This was predicted over 20 years ago yet we have done nothing to avoid it. People say that outsourcing is good for the economy but these are the people that profit from it. We've made our own bed and must sleep in it, well at least the middle and lower income people will.

    September 16, 2010 at 5:18 pm |
  72. Roger Davis

    Jack, the country did well when people of stature felt comfortable in their roles as leaders and showed it. Jack Kennedy, Ronald Reagan and Bill Clinton are people who led the country into prosperity by their leadership, not by their legislation. As soon as someone like that shows up we'll be ok again.

    Roger Davis
    Cambridge, OH

    September 16, 2010 at 5:18 pm |
  73. Nathan

    Regular people arn't qualified to answer that question, ask an economist.

    September 16, 2010 at 5:18 pm |
  74. Mari, Utah

    We have been here before, folks. Those of us who are more seasoned, remember the Twin Recessions of 1981 & 1982, during Ronald Reagan's first term in office.

    In 1983, America's unemployment rate was.........10%, with Reagan at the helm.

    We have been here, we will get through it. We are already seeing the light at the end of the tunnel.

    In NOvember vote NO for the Party of NO.

    September 16, 2010 at 5:18 pm |
  75. Dave

    Nobody knows the answer Jack, but with so much negativity I don't know how you can expect people to feel positive about a recovery.

    We as a people need to be positive. WE need to get ourselves out of this recession, and stop waiting around for our government to fix everything.

    September 16, 2010 at 5:18 pm |
  76. Jeff

    Yes, as long as we continue to ship jobs overseas and employing illegal workers at less then minimum wage it will continue until doomsday. The first step to turn it around will be in November.

    September 16, 2010 at 5:18 pm |
  77. Abel P. Ochoa, McAllen, TX

    Jack, as good as President Obama is, even he cannot fix in 2 years what it took GW Bush 8 years to damage.

    September 16, 2010 at 5:18 pm |
  78. Brett

    The crash looked like Japans lost decade at best, and the 1930's crash at worst. We have government pention problems, a still floundering realestate market, and probably other shoes that I am too ignorant to know are about to drop. Yes, I think this is a long haul.

    September 16, 2010 at 5:19 pm |
  79. J Farrow

    We are not in a recession. Given that we were last year in a near depression and it is a long road out and given that hiring and jobs are lagging indicators of recovery, it is no wonder many Americans are still feeling bad about the economy. I think the President has done as much as he could have and continues to propose reasonable solutions in a very hostile political environment. It's not just Republican opposition to his many economic recovery proposals to blame; many Democrats have been far too timid about doing what's right for the economy.

    September 16, 2010 at 5:19 pm |
  80. James in Algonquin

    I don't think... I know!

    September 16, 2010 at 5:19 pm |
  81. Karen Nakamura

    That depends Jack. If Democrats get out the vote and 61 Democrat Senators are elected and they hold the House, things will be a lot better. We'll have jobs from infrastructure and green growth.
    Fairfax, CA

    September 16, 2010 at 5:20 pm |
  82. Andy Lynn, MA

    Having pondered my succinct response to your thought provoking question; Yes, yep, uh-huh, fer sure dude. We are in deep poop!

    September 16, 2010 at 5:20 pm |
  83. jim

    Are we stuck in a long term recession, you bet we are. We ship jobs overseas, import Illegal Immigrants and the "great American Investor" is crying because they want to raise his taxes and he won't be able to hire more Illegals and open up more businesses on foreign land.

    September 16, 2010 at 5:20 pm |
  84. Al

    Two grants were made to companies in Michigan. One was for $249,000,000 and the company was going to hire 300 employees. The 2nd was for 299,000,000 and the company was going to hire 90 employees. This may require some of our career politicians to explain, but how does it help the economy or unemployment when we spend an average of $1,405,128 per new job when over 10 million people are unemployed

    September 16, 2010 at 5:23 pm |
  85. Jim Blevins

    While we are not technically in a recession, the economy sank so deep and the recovery is so slow that the recession is a good word. The real question is how to get out and how long will it take. Despite all the noise to the contrary, Obama probably has the best answer. The danger is that people grow impatient and that we return to the economic model that caused the problem in the first place.

    Jim, Craig, CO

    September 16, 2010 at 5:23 pm |
  86. Brad from Aliso Viejo, CA

    It's not a recession, it's a depression. It's going to get worse. As soon as tax hikes are imposed on businesses and the wealthy, all of the money is going to leave the country. Manufacturing is already gone, money is gone... there's nothing left.

    September 16, 2010 at 5:24 pm |
  87. brett

    Look, we are dealing with the net result of three decades of bad policy that has sent American jobs overseas , and left American workers competing with workers willing to work for $0.35 per hour. If anybody thinks you can change that in two years, I want some of what they're smoking. If anybody thinks that that is the focus of the government, Democrat or Republican, right now, I want some of what they're smoking to.

    September 16, 2010 at 5:24 pm |
  88. Mikey from Sacramento

    Change you can believe in.

    September 16, 2010 at 5:24 pm |
  89. Gary from Georgia

    Yes we are stuck in a recession. We have lost 10 plus years of manufacturing and retail. If someone thinks that 10 years of growth can come back in one or two years they are dreamers. On top of the lost growth we have social programs that at the current level are not sustainable. The history books might call this the Greater Depression!

    September 16, 2010 at 5:24 pm |
  90. Patricia/Georgia

    It will take another year or two to end. The people who are really suffering are those who bought houses they could not afford and have had to give up their homes . Business are making money ...every day I read the results of how this buinsess pulled in this much and so on.However they are not spending. Today one company said they are making profits and are having a good year but we are laying off 1300 people. Companies are cutting back even though they are making money. Banks are pulling it in hand over fist by investing in other things not loaning out money. they should be made to give out these loans to people they have been dealing with and they know are a good risk but they are not. Jobs have been sent overseas and still what is left ..they are paying less. We need to create some jobs and this president is trying to do this but getting no support from the other side. The stimulus was too small everyone agrees on this and I get angry when someone says this president has nothing to boast about. He saved the auto industry, saved us from a depression and as Americans we want instant gratification and that is not going to happen because of the last 10 years of bad judgements by the previous administration.

    September 16, 2010 at 5:24 pm |
  91. George from Puerto Rico

    As long as no jobs return, the recession will continue and could get worse. Jobs were lost in the US and reappeared overseas, where the hourly rate helps profit. It's time to give tax incentives to the companies that create jobs or bring jobs back from overseas. The only way to get out of this recession is getting money into the hands of the people who in turn can buy goods and services. It simple economics.

    September 16, 2010 at 5:25 pm |
  92. John Fatte'

    As soon as we get rid of this spend and tax administration, you will see the economy return to more acceptable levels. Let's not forget, the tax dollars that they take from us would be funneled into the economy if left in our pocket, but will be funneled into that money hungry beast know as the "government bureaucracy" if put into the pockets of the current administration. It's time for the US government to go on a diet like the rest of America.

    September 16, 2010 at 5:25 pm |
  93. ~BEVERLY~Mystic,Iowa

    Uphill battle? Not when voters look at the know-nothing alternatives.

    September 16, 2010 at 5:25 pm |
  94. John Verco

    I live in Manhattan, in a pretty upscale neighborhood, and I see an increasing number of homeless people on the street at night. It's very disturbing. I think things are getting much worse.

    The most troubling occurrence was having a fruit salesman on the street near Union Square stop me as I was walking by to ask me if I wanted to buy fruit. This has never happened to me before, and makes me feel that people just aren't spending money.

    September 16, 2010 at 5:25 pm |
  95. Joe Citizen - Anywhere U.S.A.

    This recession is not going to end. Government has grown so big that we cannot sustain it and grow an economy that hasn't existed for some time. For at least thirty years we have been stimulating the economy through debt and trade deficits. It has now reached a point where the stimulus required is to great to sustain. Thanks to the myth that we could have a service based economy, cut taxes and increase spending, we now have no economy

    September 16, 2010 at 5:25 pm |
  96. Hank

    If you're stuck, normally you would need a wench, snow chains or a shovel. If you asked a current member of congress to loan you any of the above, they would probably wouldn't have a clue. Instead, they would sugest you call a TAXi.

    September 16, 2010 at 5:26 pm |
  97. Angela Savage Austin

    Jack...we bailed out Banks...yet they won't give back loans, we bailed out large Corporations...yet they won't hire, but give themselves large bonuses, and enforce lean programs laying off employees to gain further profits, small businesses aren't approved loans so that they can hire, large corporations inform their recruiters, don't send us the "Unemployed applicants"...and you blame President Obama...why not hold the guilty parties responsible?...should be against the law, the guilty arrested...that would create alot of job openings.

    September 16, 2010 at 5:26 pm |
  98. Jared

    The pressure falls on consumers. Yes, we are still in a recession but much of it has to do with Americans not spending enough. It's as if some massive entity is telling us to stifle the economy from the inside. The constant negativity is largely to blame. So as long as that fear is out there... then yeah... it's going to be tough to climb out of this.

    September 16, 2010 at 5:26 pm |
  99. Don in Nevada

    Jack, we are definitely stuck. It seems to me that the only way to have a financial jolt on a macro level would be to cut the costs of energy. If there is a way to cut down the costs of utilities i.e. electric, gas, telephone, cell phone, cable TV, internet, and auto fuel, it would provide a massive and long lasting economic effect for our country and the world. It would allow every household to contribute more to savings and investments, cut down debt and maybe get back to having a single income household.

    September 16, 2010 at 5:26 pm |
  100. satxbobw

    The answer to the question is easy. Yes! I don't care who is running this country. I think the current administration has done as good as possible or as least as good as possible considering where they started. We began this in a huge hole created by lack of government regulation, 2 wars and borrowing more than we take in. Check the deficits of the last 4 presidents starting with Bush and see who was responsible for the deficits. Obama inherited a big deficit but had to add to it because there was no spending by consumers or businesses. He will be damned for what he has done or will do.

    September 16, 2010 at 5:26 pm |
  101. Marlene Linville

    It looks like this recession will continue or get worse for a long time, cause all I keep hearing is this tax increase. FOR WHAT !!!! Mosley for these people in the government that want to give themselves FAT RAISES while the hard workers of America are either homeless or practically there. The president is talking about it might help if we send our work that have lables on the products Made in USA on them. That won't help any, cause I once worked at a company that skin packed some parts for a company, but before any parts were skin packed, we first had to take off the stickers that read Made in Japan with alcohol & replace them with stickers that read Made in the USA !!!!!

    Marlene, North Carolina

    September 16, 2010 at 5:26 pm |
  102. tony distefano

    Yes, Jack, the US economy is stuck in a recession that won't end any time soon. Either the Government doesn't know what to do, or else it lacks the will to do it. This is because most government officials are insulated from the hardships that many people are facing.. The worse things get, the more drastic the solutions will have to be. If no solutions are forthcoming, the hungrier people will get, and the more drastic their actions will be. At that point, it won't be a tea party!

    September 16, 2010 at 5:26 pm |
  103. D.Peter Waterman

    I say yes, however, It is only going to get worse when China calls in their chips. Let's smarten up congress!

    September 16, 2010 at 5:27 pm |
  104. Ruby, Champaign

    Gosh darn! If it gets any worse, I'm going to have to give up my cable!

    September 16, 2010 at 5:27 pm |
  105. John - Macon, GA

    I'm sick of the pessimism that is gripping this country. This is America – we will overcome this recession and continue to prosper into the future.

    It won't be Republicans that help us do it, nor will it be Democrats – it will be the American people picking themselves up by their collective bootstraps and making this great country work again.

    September 16, 2010 at 5:27 pm |
  106. Trish

    Any intelligent person would understand the economy will get better if the politics would end. I have been following this stuff and it is unbelievable that republicans would play games with people's life. They are the reason it hasn't gotten better. The democrats have faught tooth and nail relentlessly, but the republicans filibuster just saying no without any other solutions to resolve the issues. They did it to prevent giving any accomplishments to the president. I can see if they said no, but offered other alternatives, but if was either their way or no way. PLEASE WAKEUP ALL democrats!!!! The wolves in sheep clothing is on the prawl and if you think we have problems, you aint seen nothing yet if we let them get control again. Think about privitizing social security...please learn where they stand before you decide to vote for them or just stay home. The democrats really have tried and sat and watched it all.

    September 16, 2010 at 5:28 pm |
  107. Steve, Clifton, VA

    Don't believe that we are stuck in a recession but I do believe that it's going to take longer than 18 months to dig ourselves out of a hole that took 8 years to dig. Also, poles are not going to get us out of this mess. A unified country working with a unified Congress and administration working towards a common goal and solutions based economic policies to fix what is wrong as opposed to place blame on what is wrong is where the countries focus should be....Not Polls.

    September 16, 2010 at 5:28 pm |
  108. Mark from Boston


    I hate to break the news to you, but the American people have binged on debt for decades. And, you don't cure an addict by giving them more of what they're addicted to. Eventually, the addict will overdose and be FORCED into withdrawal, and that's where we are today, Jack. Whether you call it recession or withdrawal, it is a MANDATORY part of rehabilitation.

    So, get comfortable. We're going to be here a while.

    September 16, 2010 at 5:28 pm |

    Most of us working poor (formerly known as the middle class) are stuck in a recession and at the mercy of politicians that think they have done their job by just winning an election. Will somebody please pass on the message that they are there in DC to represent us not choke us and break us while they bicker pretending to work. I would say 99% of the money i earn is spent on bills and groceries and i have no credit card debt mind you. Forget about taxing certain people, I say tax people who spend more than 40% of their income on luxuries and needless items, before toilet paper is concidered a luxury to the homeless, formerly known as the working poor.

    September 16, 2010 at 5:28 pm |
  110. chris

    no worries. our fearless politicians can't possibly think there is a problem since they are out campaigning.

    September 16, 2010 at 5:29 pm |
  111. jeff, alabama

    The best indicator of the general economy is the car
    business. I'm in it. There have been record breaking months
    recently in dealerships all over America.
    Who the heck are you people polling ?

    September 16, 2010 at 5:30 pm |
  112. Sam


    The recession has already ended. A recession is multiple quarters of declining GDP. The US GDP has been growing. The job numbers are the results of a recession that started in 2007 and ended in 2009. Also to Mr Gergen, the small business that he is talking about that pay their employees over 250K are not your mom and pop businesses. These small businesses are hedge funds and investment groups and other LLCs and S-Corps that may have small numbers of employees but make big money. Who do you think the big banks owed their money to and caused them to collapse. The hedge funds may be considered small business but they engage in big business. These are the same companies that caused the crash, and now we want to raise their taxes and you are defending them. Some perspective please.

    September 16, 2010 at 5:30 pm |
  113. David

    Of course we are, this is nothing new. When the financial crash occurred top GOP and dem. economists all stated that this would take many, many years to recover from.

    September 16, 2010 at 5:30 pm |
  114. Gigi Oregon

    It took eight years of the Republican party to drain the excess funds built during the Clinton Presidential terms. Borrowed money for two wars one a farce. Let corporate America run wild gouging the people with hidden fees etc poor business practices etc. How can it be turned around in eighteen months. Then they say it's all Pres. Obama fault. And this is the sad part the people are not smart enough to get it and are brain washed with fear tactics and lies. With bailouts, perks and tax cuts for the rich. Yes we are stuck all right in ignorance and the Republicans are banking on it.

    You are right the Democrats are facing an up hill battle against corruption and ignorance.

    September 16, 2010 at 5:30 pm |
  115. SYSPROG

    Honestly!!!! We are not 'stuck' in a recession. It is slowly, gradually improving. Let's stop the media 'ADD' obsession with instant gratification. We need to solve the underlying problems so we don't end up in ANOTHER one anytime soon.

    September 16, 2010 at 5:30 pm |
  116. Patricia/Georgia

    President Obama has created more jobs in 18 months than Bush did in 8 years..that is a fact. He saved the auto industry and now there are 18 factories being built in Michigan to make solar batteries which will be sold her and we are selling them overseas. This effort alone saved many jobs for us and without that we would be in worse shape. many Americans are proud to be working again in the auto industry. It is impossible to turn this recession around in 18 months because it has been deemed the worse recession in history and it took 190 years to happen. People were spending where they shoud not have been and now the want the government to bail them out. A lot of it was the banks fault and people's own fault but impatient Americans want instant gratification.

    September 16, 2010 at 5:30 pm |
  117. Angela Savage Austin

    The only thing that trickles down from the top are pink slips. Nothing new...nothing changed.

    September 16, 2010 at 5:31 pm |

    We are stuck in a long term Obama, Pelosi, and Reid lie. We will end up in a depression and it will be people on the looney left that have caused it. Ken Krieger Cape Coral, Floridas

    September 16, 2010 at 5:31 pm |
  119. Keith Brando

    Well technically we are not in a recession anymore, Yea right! Look ..whatever the duration of this economic condition , and it looks like it will be a long time, it deserves a new name ..... recession does not fit anymore....what we are experiencing is an Economic Hesitational period...and it permanent!!!

    September 16, 2010 at 5:31 pm |
  120. Robert

    It took years to get into the recession after having a surplus. I guess the bigger question might be how many years does "stuck" mean. Sure I wish there was a magic switch to flip. I just think that it takes time to get the economy back on track. I think it's important to remember where we were a few years ago. The edge of panic. As you pointed out "four quarters of growth", it's wasn't that long ago when we were talking about many quarters going under. Be patient as there is no quick fix and remember it's equally as important to fix the issues that got us here so we don't come here again.

    September 16, 2010 at 5:32 pm |
  121. Amechi, NYC

    Americans have lose credibility in the economy and those in the Washington. Its has been almost a 2-year now, when we have being hearing economic crusade and the policy incoherence, that is going on in the Washington. But the question is, when are we going to hear a positive outcome about economy? Absolutely unknown!

    September 16, 2010 at 5:32 pm |
  122. James Palmdale California

    It took us eight years of George W. to get into this mess, so I expect it will take almost as long to get out of it, and even if we do, honestly America will never be the same... James

    September 16, 2010 at 5:32 pm |
  123. hurricanepaul from Hawaii

    Jack, Our elected officials have SPENT 56 TIMES THE VALUE OF ALL OF THE US GOLD RESERVES...and what exactly do "we the people" have to show for it?

    Team Obama has driven our country off the cliff and we are falling in mid air right now, waiting for the crash.

    September 16, 2010 at 5:32 pm |
  124. Eric

    Have faith Jack!
    It will end on January 21, 2013.
    On that day, investors will know it's safe to go back in the waters again, jobs will appear out of the thin air and we'll see a trillion dollars dumped into the market overnight.

    September 16, 2010 at 5:32 pm |
  125. Eric

    Do the math. Take the trillion dollars in stimulus that has not created jobs and divide by the 14M unemployed Americans. The result is over 70K each. Thats two years of employment at almost twice the poverty level. Result. No unemployement and clearly there are dozens of infrastruture projects alone that could be sourced. Or better yet, higher them all to look for waste in gov.

    September 16, 2010 at 5:33 pm |
  126. tom raleigh nc

    Jack, The recession won't end until the republicans are back in power, and the rich have gotten their bush era tax cuts. Corporate America has cut employment, and benefits so that now they are sitting on trillions of dollars in reserve. They know if they invest it back into the econmy, the recession will end, and they won't get the tax cuts. However, if they don't invest, the recession will continue, and the republican party of the rich and well heeled will use this as an excuse to give the wall street gang tax breaks they don't need. Corporate America has the money right now to end this recession. How many Porsches does one person need?

    September 16, 2010 at 5:33 pm |
  127. Ann Marie from SC

    I think we are. The American people believe that the recession should dissolve at a moment’s notice. We had many good years from the early 80’s until a couple years ago. We made no provision for a downturn in the economy, we allowed big business to do what they wanted without regulation, we lived on credit, bought what we couldn’t afford, all with the encouragement of mortgage lenders and the financial markets. Now President Obama failed to clean up the mess in a month and a half and Americans are so angry they are not thinking rationally. If we want to get out of this recession we need to work together to make it happen.

    September 16, 2010 at 5:33 pm |
  128. Dan from Seattle

    It was overspeculation and greed that inflated the economy giving us a false sense of security when in fact it was a very precarious economy. I think we can recover but only if we stop the rampant government spending and drastically address the debt. My question is are we willing to make the hard decisions that may require sacrifice and thinking of the better good or are we going to continue down the path of slow ruin? I know we have the capacity as a country to overcome any and all challenges if we are willing. We have proven it before and we can do it again. I just don't believe that the current direction of our government on both sides of the isle is prepared to lead us there. We will have to come out of this mess in spite of them!

    September 16, 2010 at 5:34 pm |
  129. Pamela holt

    foley, al. the recession will end when obama is out of office. the powers that be, who controlled the countyies purse strings for the past 8 years, still are influincing it today. i think the american people realize one thing. they are being controlled by a political form of blackmail; if you elect a democrat for president, especially a black one, we will make your lives miserable. you put a republican president back as president, we"ll throw you your crumb. SO IT WILL BE!!!

    September 16, 2010 at 5:34 pm |
  130. Michael, Chapel Hill

    if the President could scare the those who have money (I men everyone), we are in deep trouble.

    September 16, 2010 at 5:34 pm |
  131. John Young

    Techically there is probably no longer a recession but things are unlikely to improve significantly over the long term, if ever. The outsourcing chickens are coming home to roost. A consumer driven economy can't work when the consumers no longer have decent paying jobs. Companies are saving billions sending jobs to India, China, etc but I don't see their products getting any cheaper. When many are able to just pay rent and put food on the table they can't keep an economy growing at 2-3% or more per year. Henry Ford realized people needed to be paid a decent wage to buy what he sold. Why can't politicians and greedy corporate executives realize that?
    John (Halifax, Canada)

    September 16, 2010 at 5:34 pm |
  132. samsteve

    It will be bad as long as we keep whining. Nothing gets better without some sacrifice and a good attitude. Let's dust off and pick ourselves up. Time to get going. Yes it's bad, really bad. But it won't get better by complaining. Stop looking for the bad, focus, and move ahead. We have done it before, and we can do it again. That's who we are.

    September 16, 2010 at 5:34 pm |
  133. lynnej in nc

    As long as those that "have" don't want to share with the "have-nots" in the way of actually creating jobs that can actually pay rent, buy food, provide a college education and some decent healthcare, get use to the words "recession" and "depression."

    What I'd like to know is what are the "haves' going to do when the "have-not's" run out of the money to buy their goods made by the jobs that they shipped overseas that helped create this mess?

    September 16, 2010 at 5:35 pm |
  134. chris, tx

    for everyone who blames bush for the state we are in the Dems have had control of Congress since 2007. If they were to reverse any of the "horrible" things Bush magically did by himself they have failed. This failure adds to their increasing responsibility for the state we are in given the President was a part of this session of Congress before becoming President. Here is to the "Great Recession!"....don't forget the summer now fall of recovery

    September 16, 2010 at 5:36 pm |
  135. Ruby, Champaign

    I grew up in the real Depression. There was no unemployment compensation for those without jobs, there was no Social Security for senior citizens, there were no food stamps, and almost nobody had health insurance. We're not experiencing the prosperity we've enjoyed for so long, but comparing this recession to the last depression–"We ain't seen nothin' yet!"

    September 16, 2010 at 5:37 pm |
  136. ~BEVERLY~Mystic,Iowa

    Most economists agree that the fastest way to get the economy moving, is to temporarily raise everyone's taxes, but there can't be many Americans who will go along with that.

    Bill Clinton raised taxes on JUST THE WEALTHY, & look what happened. with STUNNING RESULTS!

    Shame Republican'ts don't want to repeat GOOD history, & only yearn to return to the bad old days of Bush. 

    September 16, 2010 at 5:37 pm |
  137. Ian from MN

    Of course we're not stuck in a long term recession. Unemployment was equally as high the first two years of the Reagan administration, and Obama's approval rating is basically identical to his right now.

    The money Obama spent was done more to stop the bleeding than to jump start the economy. It did that. The recent infastructure program as well as the small business tax cut plan will do more to jump start things. Things are still going slower than we'd like, but wait til christmas comes around and I think we'll start seeing some more positive signs.

    September 16, 2010 at 5:37 pm |
  138. Bill Hoch

    This recession will be around for many years. I am of the 50 million americans who are unimployed, uninsured, and under the poverty level. I cannot find a job even though I have a Physics degree and have held many blue and white collar jobs. There are no jobs out there, and I tell my kids that when my little nest egg runs out, they can visit me at the second refrigerater box in an alley in the our local town.

    Bill, Pa.

    September 16, 2010 at 5:37 pm |
  139. Ryan


    We will be in a recession until the temp companies are shut down. They discourage higher pay rates per hour and benefits.

    September 16, 2010 at 5:38 pm |
  140. James R

    This recession will not end, since it is not the typical recession. Today's headline about the percentage of Americans living in poverty may have shocked some people, but it is only the beginning. Our jobs have been siphoned off by Asia for the last 2 decades, but our business/elite controlled government has masked the effects of this movement of jobs with easy credit and deficit spending. This maintained the illusion of prosperity while our economic foundation was being undermined. Business and the elites that own the majority of wealth in this country love the imbalances caused by globalization. They send the jobs overseas, sell the stuff back here in the states for only slightly less than before, and pocket the difference. The fear felt by the middle class will soon be replaced with anger as they realize the lies being told to them by government. The only thing that has kept a lid on things has been the safety nets that are now being attacked by the politicians trying to regain power by tapping into the resentment felt by the people still lucky enough to have jobs. This is not going to end well.

    September 16, 2010 at 5:38 pm |
  141. Greg Who? Mechanicsburg, PA

    It's called a depression. For those Americans who have lost their homes through foreclosure or for those 10% unemployed or those millions who are underemployed, this is a depression. Republicans brought it upon us. Republicans are standing in the way of recovery by being obstructionists in the House and Senate. Republicans planned this strategy from the beginning of Obama's term. Keep the economy sluggish so Obama and the Democrats get blamed for it. The Democrats deserve to lose if they can't get this message out to the people. This is a Republican depression, just like the last time.

    September 16, 2010 at 5:38 pm |
  142. Jack - Lancaster, Ohio


    The fix will not happen in the remaining lifetime of the current senior citizens. It will take a lot of productive and sacrificing babies of all kinds to pay for and solve this problem. You Seniors can still help if you are fertile, eager and frisky !

    September 16, 2010 at 5:38 pm |
  143. Barry - Ashburn, VA

    "The Economy" is too vague a term. We can have continuous growth in the GDP while stilling having worse unemployment. What's good for corporations, profits, and dividends is not necessarily good for employment because of increases in productivity, export of jobs, automation, etc. I'm guessing that the GDP and Dow Jones will go up in multiple quarters, formally ending the recession, but unemployment won't improve.

    September 16, 2010 at 5:40 pm |
  144. Mark from Boston


    All of Bush's horses, and all Obama's men will not be able to put the economy back together again.

    The market must SELF correct and purge ITSELF of inefficiencies, especially companies that would be bankrupt if not for government interference.

    Does it really matter what color shirt the crook that robbed your house had on? In two years we will be having this same conversation. Blue, red, or purple shirt you're still a victim.

    September 16, 2010 at 5:40 pm |
  145. Boomer in Mo

    I'm no economist, but something good (yes, gasp, good) is going on in MO in the last month or so. A bunch of union construction workers have started working at least part-time again. Buyers suddenly started seeking out timber for sale and are offering good prices. Joe Public is spending a little more in the stores around here than he was. Don't know what is going on, but things loosened up here, at least in the short term.
    Still, I won't consider the recession over until all the neighbors are back to work full time. My husband retired and took Social Security early and is now a full-time farmer by default. Not a great situation but we are getting by.

    September 16, 2010 at 5:42 pm |
  146. Pete-Sacramento CA

    Jack, I believe that because of I.T.E.S. big business, who mostly vote republican, is interested in keeping the economy down until the election season then the Reps can blame the Dems for the economy with the hope of getting the White House back and bringing back the pay-to-play system that existed during the previous administration. I am completely disgusted with the Republican Party.

    September 16, 2010 at 5:43 pm |
  147. chris romine

    Dear Jack; I am one of them that have hit poverty, ive been out of work for close to five years come November, i became disabled at work and employer fighting treatment and benifits, only thing keeping me going is my faith, mother, and food stamps if wasn't for that id be homeless something has to give soon if not I see a Civil War coming to the states soon, but all i here is more tax breaks do we really need more tax breaks, i feel that we have been taxed break to death here lately and it needs to stop, let the rich people pay and corperations pay there way .

    September 16, 2010 at 5:43 pm |
  148. Brian Weber

    This is a multi-faceted recession in that those with money or in control of money are still comfortable(large corporations, banks, individually wealthy); those that are reliant on the premise of well paying jobs, pay raises,and loans will feel the recession extending(middle class, small business, entrepreneurs). Some regions will be slower to recover, and consumer consumption will be impacted as people have to determine what they really need and don't need, affecting the success of business large and small.

    September 16, 2010 at 5:44 pm |
  149. robert a. miller

    1.Unemployment, we need to tie the congress and senate pay to the unemployment rate if it is 10% or 15% they would that much pay from there income, they hold the power they take responsibility for it.
    2. the insurance rates are going up so pass a law that required they pay 90% of the premium to inured health care anything left over that would come off of the premiums charged, that would be returned to the holders
    .3.CEO can not make more that 500% of the companies average pay for the corporations employees.
    Maybe this to simple for the news
    Robert A. Miller

    September 16, 2010 at 5:44 pm |
  150. dj

    If the trend continues, first manufacturing and IT positions will average out between the US, India, and China then the lawyers and doctors will have to adjust their expectations. You cannot support a North American standard of living if you are averaging resources across that many people, and it's made worse when a large percentage of that population is at retirement age and has much of their net worth tied up in houses which people can no longer afford. The President can throw incentives at the problem, but it's a fundamentally difficult situation.

    September 16, 2010 at 5:44 pm |
  151. Jerry

    Not until Congress learns to work together and is willing to help the country. Based on who is in office now and those that are running for office i doubt it will happen for 2-4 years, and then it will take a few years for it to take hold.

    September 16, 2010 at 5:44 pm |
  152. Tonie from OK

    People need to give this time. The other side has no better solutions except to go backwards to the Bush years. We need to chill because we are getting people who are extremely unqualified and not truthful. Obama is at least trying unlike the other side who are worried only about gaining power back, they are sore losers.

    September 16, 2010 at 5:45 pm |
  153. Maggie

    The recession will be over when we can buy American made products, such as toys for children and clothing, instead of clothes from China that fall apart after one use, and toys full of lead and other dangerous things.

    September 16, 2010 at 5:45 pm |
  154. Chris in Iowa

    I think the economy will go into overdrive once businesses start hiring again. That could be soon. Many have near-record cash on hand at the moment, but are being conservative on practices while new laws go into effect.

    I have a feeling that as we get closer to year's end, we'll see more full-time and permant jobs added since companies will have to do something with all that cash or get taxed. There will also be less uncertainty after the midterm elections are complete.

    Perhaps we'll be concerned with inflation over the next two years as opposed to a recession.

    September 16, 2010 at 5:45 pm |
  155. Tom Bulger

    If other Republicans go the way of Snowe and Collins and refuse to filibuster Obama's middle class tax cuts, we are on our way out of the ditch.

    September 16, 2010 at 5:46 pm |
  156. Shawn from KY

    Unfortunately, if the present administration hadn't passed the near trillion dollar stimulus bill, the unemployment lines would be twice as long as they are currently. No one has forgotten who is responsible for driving our economy over a cliff, and if those who are responsible (GOP) have their way, we can be guaranteed to see more Rockefellers fill their cups with the blood, sweat, and tears of the poor. Yes, we are stuck in a recession, but if the republicans maintained control, we would be stuck in the Great Depression. Our only hope is for Apple to soon build a time machine, so we can travel back to the year 2000 and do things over.

    September 16, 2010 at 5:46 pm |
  157. barbara Drake

    thank you again for your thought provoking journalism!!

    September 16, 2010 at 5:46 pm |
  158. Dave

    When everything we pay is for interest on debt, there's no way we can recover.

    September 16, 2010 at 5:47 pm |
  159. Gene in Michigan

    Yes, we are in a long term recession. Our government (through both Democratic and Republican administrations) believes that it can simply inflate bubble after bubble using the Treasury's printing presses, and that all will be well. No country can remain prosperous being dependent on a service oriented economy like ours. Somebody has to make something. Consumerism is not a viable economic game plan.

    September 16, 2010 at 5:47 pm |
  160. Paul from VA

    It's going to take a long time to undo the 8 years of GOP mismanagement under Dubyah. Big business and banking had a field day and now we are all paying for it. They all got the bonuses and we got what's left–nothing except the bill.

    September 16, 2010 at 5:49 pm |
  161. Gary, Seattle WA

    Because of the continued barage of foreclosures, and the misguided money down the drain actions of our government to prop up housing – which only delays the inevitable – we'll be stuck where we are for a minimum of 18 months. And that's best case. We could be headed to where Japan currently is – stuck in a multi-decade quagmire. I'm definitely a consumer who is hunkering down and living lean.

    September 16, 2010 at 5:50 pm |
  162. Bob Straight


    For those who believe the economy will recover within the near term, my question would be "recover to what?". Surely, noone believes the economy will recover to what it was in 2004-2006 – the height of subprime mortgage loans, anyone who wants credit gets credit, a budget deficit much less than what it is now, and financial institutions engaging in all sorts of packaging shenanigans – and do so without returning to the same unsustainable practices.

    Short of one or more castatrophic events that force the international community to look to the US (i.e., post WWII – mid 1970s) for services and manufactured goods and allow us to once again become the world's only intact industrialized nation, our days of economic glory are in the past.

    George W. Bush, with the cooperation of a compliant Congress (Democrats and Republicans), and the greed of an uninformed populace, launched us on our last economic hurrah. His war with Iraq was the same in the context of the US unilaterally exerting its military power. Those days are past.

    Bob Straight
    Fredericksburg, VA

    September 16, 2010 at 5:50 pm |
  163. Mauricio

    We will be stuck in the recession until we a) level our trade deficit (~-400 billion, ~3% GDP), b) stop borrowing money (~13.5 trillion $, ~94% GDP), c) We come up with innovative "ideas" to export to the world
    (such as air conditioning, airplanes, internet)

    For that we need to a) promote national industry, b) stop our dependence in foreign energy sources and c) Invest in Science and Technology

    Who in the white house can do that? or more important, Who is willing to do it?

    September 16, 2010 at 5:50 pm |
  164. Jorge Bean

    No we are not stuck in a recession.

    September 16, 2010 at 5:51 pm |
  165. PK California

    If we could get out of funding the war, there may be a little more to cover our debts and fix the economy. The wars and tax breaks for the rich have only contributed to the problem. We were told this wasn't an easy fix and it isn't. When you have only one party trying to do the fixing it isn't any easier. The GOP only finds fault because they haven't a clue how to fix it, or maybe they would have. God forbid they get back in power! They'll only dig the hole deeper!

    September 16, 2010 at 5:53 pm |
  166. Claudia, Houston, Tx

    Not only are we stuck in a recession that won't end anytime soon, we're also stuck on stupid if we believe any politician can and will make a difference, regardless of the party.

    September 16, 2010 at 5:53 pm |
  167. Dave Long

    economic pressures continue unabated with outsourcing & technological advancements outpacing our financial & cultural ability to adapt. If politicians are unwilling/unable to get in front of this issue, we'll have to wait years until we've a globalized standard of living.

    September 16, 2010 at 5:55 pm |
  168. BryanWolf Fort Mohave, AZ.

    Yes it will take much longer. The loss is now and will be too much. The separation between the "Haves and Have Nots" is still growing. We all no why. It seems these days it's every man for his self. Until we work together we will never get out of this. Money is worshiped too much.

    September 16, 2010 at 5:56 pm |
  169. Bruce

    From the perspective of debt, unemployment, and dollar devaluation, we may be in a depression. It would immediately end if we rip up NAFTA and re-implement tariffs.

    September 16, 2010 at 5:56 pm |
  170. Ken in Maryland

    It took 8 years of bad decisions and chicanery to get this country into the current mess. We won't get out of it in 20 months.

    Jobs are being created, consumer spending is up, we're on our way out. It just takes time.

    September 16, 2010 at 5:58 pm |
  171. George Guadiane - Austerlitz, NY

    Truth is, starving people are easier to "manage" than prosperous people, Our House, Senate and Corporate America like us this way.

    We have been PLACED in a recession that won't end any time soon.
    The panoply of self serving banking maneuvers that got us into this mess have left the "Rich" not much less wealthy than when this meltdown began and CERTAINLY better off than the rest of us and they have no interest in being a part of the larger solution.
    Our Congresspeople have created financial and medical comfort for themselves but left little for the rest of us.

    September 16, 2010 at 5:58 pm |
  172. kazz

    it will end sooner if people learn to think positive and be thankful for what they have

    September 16, 2010 at 5:58 pm |
  173. The Mudshark in Oregon

    This is just the beginning of the shock treatment. Within 10 years there wil be no middle class. Only the very rich, and the rest of us who will serve them.

    See Argentina, Chile, China, Indonesia for examples of what to expect.

    September 16, 2010 at 5:59 pm |
  174. Nellie

    We are stuck in a recession until businesses feel more secure about spending money. With all the new regulations and the healthcare debacle I do not think that is going to happen until there is a confidence that things are going to change in Washington. If the GOP takes the House in November and comes up with a viable plan to cut spending & continue the Bush Tax cuts things will turn around mid 2011 – I guarantee it.

    September 16, 2010 at 5:59 pm |
  175. Jeannette, American via Canada

    Please Jack, go and ask the Party of "NO."
    They seem to only want to help the 2% (including themselves) who have off shore bank accounts and businesses.
    They are the 'GREAT DIVIDERS of America."
    Instead of calling them the GOP – lets all call them the "NOPE PARTY,"

    September 16, 2010 at 5:59 pm |