Recession since Dec. ’07

It’s official: Recession since Dec. ’07

The National Bureau of Economic Research said Monday that the U.S. has been in a recession since December 2007, making official what most Americans have already believed about the state of the economy .

George W. Bush was president from January 20, 2001 – January 20, 2009

He also had congress under his wing helping pass anything and everything he asked for.

Barack Obama assumed office January 20, 2009 and the recession was not even called a recession until 2007 however, the republicans in congress are blaming this recession on his presidency?

Remember, by no means has this president or anyone else been able to get this republican controlled congress to do anything for this country.

Even so, people are blaming this president?

20% of Workers Laid Off in Past 5 Years

“Do Nothing Congress!”

Roughly a fifth of U.S. workers, or an estimated 30 million, were laid off in the past five years according to a new surgery from Rutgers University.

Do Nothing Congress!”

According to that same survey about 22% of those who lost their jobs still are unemployed.

Do Nothing Congress!”

Almost half are in jobs that pay less than their old ones, and nearly 40% said it took more than seven months to find a job.

Do Nothing Congress!”

And still the people in this country blame this president?

http://money.cnn.com/2008/12/01/news/economy/recession/index.htm

The NBER is a private group of leading economists charged with dating the start and end of economic downturns. It typically takes a long time after the start of a recession to declare its start because of the need to look at final readings of various economic measures.

The NBER said that the deterioration in the labor market throughout 2008 was one key reason why it decided to state that the recession began last year.