Chamber of Commerce: U.S. in a recession

[sabra]

Source: The Hill

The U.S. economy has entered a recession that will be deep and lead to increased unemployment, a senior official with the U.S. Chamber of Commerce told reporters Thursday.

“We are currently in — or the National Bureau of Economic Research will shortly determine we’re in — a recession,” said Bruce Josten, the business lobby’s executive vice president for government affairs.

He said the recession “will not be a shallow recession,” and predicted unemployment could rise to as high as 7 percent in 2009.

The national unemployment rate is 6.1 percent, but Washington and Wall Street are bracing for the release Friday of a new Department of Labor jobs report that could show significant job losses. The National Bureau of Economic Research is the body that actually determines whether the U.S. economy has entered a recession.

Read more: http://thehill.com/leading-the-news/chamber-of-commerce-u.s.-in-a-recession-2008-11-06.html

[ck4829]

1. Gee, I wonder what motivated them to say that now?

[sabra]

2. coincidence... I think not...

[fasttense]

3. Welcome to the 2nd Republicon Great Economic Crisis

I think we should call this one the Republicon Great Recession.

It's almost as if everyone forgot about the last Great Depression in their rush to embrace the great ponzi scheme called capitalism.

[onehandle]

4. The recession started in March of 2001.

And never ended. They've been rigging the numbers the way they rig elections. But now even creative accounting won't hide the truth.

[predfan]

5. Obviously the economy's gone to hell over the last , oh, 48 hours. Sure.

[bemildred]

6. Here comes the clue train ... nt

[BayjanDem]

7. No sheeyet

[Keanna1]

8. Really?????

Isn't it amazing how show up after the crime has been committed? Who knew the US was in a recession, besides Sen. John McCain of course!!!!:banghead:

[LynnTheDem]

9. DAMN DAMN DAMN that BILL CLINTON!!1!

And his damned Clenis!!1!

AND that damn damn damn OBAMA!!1!

It's ALL THEIR FAULT!!1!

[bitchkitty]

10. Oh, they noticed? n/t

[formercia]

11. Maybe the Chamber of Commerce will get less money

to steal elections with.

[nichomachus]

12. The US Chamber of Commerce is a greater threat to America than Al Qaida n/t

[Solly Mack]

13. Say it ain't so

I see smart people. snicker

[newtothegame]

14. True n/t

[Phred42]

15. They JUST found this out - Didn't know this a couple of months ago

when it might hurt Republicans election chances

Chamber Of Commerce is just another 20th Century Fascist organization that needs to go extinct

[pitohui]

16. no shit sherlock

these guys at the chamber of commerce aren't too swift on the uptick, are they?