The technical Defintion of a recession is 2 consecutive quaters of Negative growth, or shriking. So what are the numbers? well in the last 3 quaters they are: Ending Dec 07 - Neg .02% Ending Mar 08 - Pos .09% Ending June 08 - Pos 1.9% 1.9% is actually less than expected but the pattern is over the last 3 months, an upward one. While clearly things are not wonderful, I would have to say we are by no means in a recession. Despite what Both Obama and McCain are saying. In fact I would say that in the face of the Housing Crisis, the Energy Crisis, and the Credit crunch. 1.9% growth is actually pretty amazing. I would also point out that in the month of June the Dollar actually gained on many other currencies for the first time in a long while. I am by no means trying to say that we are doing honky dory, only that things are clearly not as bad as some would have you think. If we could only get deficit spending in check, and address the Energy crisis, we could start to see some real growth of the economy, and start our way out of this shaky economy.