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What's recession?
And the debt so far is $7 trillion.
I have this question for you guys, Is USA in recession mode?. I think it will be in recession mode if the gov't don't stop spending money like crazy, the national debt is hella high it is like billions of dollars that the USA gov't owes to countries like Japan, Germany, China, UK, Australia etc. so what do you think?
recession= period of time when all businesses start to decline and the GDP of the county starts going down, after recession is depression which is 100 worst than recession.
Last edited by ketaro; Oct 14, 2005 at 07:56 PM.
What's recession?
And the debt so far is $7 trillion.
Grumble Grumble Grumble
The general accepted definition of a economic recession is when there is a negative growth in the economy for three quarters in a row. This has not happened yet... You don't know if your in a recession until your already in one...
Since by definition, there is no debate about being in a recession, so this thread is being moved into the Cyberlounge...
No.Originally Posted by ketaro
Chart<--link
The average GDP is 3%. The last few years have actually seen some record highs.
First Quarter GDP: Above Average Again<--link
As for the national debt, it is only 3.6 for 2004 and expected to be 3.5 by the end of 2005. Those numbers are expected to continue to drop until 2009 where the projected deficeit is 1.5 of the GDP.
Basically there was a recession in 2001 (9/11) but there has been steady and continued growth ever since.
Committee On Ways and Means<--link, scroll down for charts.
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