So, I was wondering what everybody thought about the current economic situation that the States are in. The Bank of Canada states that they think that the USA has a 40% chance of a recession. You current Government has such a huge deficit at the moment that it is unlikely they will be able to do much to help the right the economy if things do fall to peices. Plus, you government policy is against social spending in general. What are your thoughts?

The United States isn't technicallyin a recession.

A recession is defined as negative growth for two quarters in a row. The United Stats technically made a 1% growth first quarter, and therefore the Department of Commerce won't recognize it as a recession.

However, if you add in additional sources of information, it looks like the United States is definitely in a recession. My personal opinion is that yes, the United States is in a recession.

JBDill, the United States, in the grand scheme of things, is against social spending. Take a look at most of the European world and South American world and you'll see what I'm talking about.

Is the United States in a recession? I believe so.

U.S. GDP averages about 2-3%, but has fallen below the average for more than two quarters and currently averages around 0.6%.

However, recession is a natural economic occurrence and there is little to worry about. Especially since the government acted unusually fast to enact Fiscal Policy.

Our government is against social spending? It added 1.8 million jobs last year and continues to grow by more and more every year (3.4% last year in comparison to 3.0% in 2005). What could be better for society than that? And that doesn't sound anything like a recession. http://www.uschamber.com/press/actualities/2007/070124_state_of_economy.htm