Your solution
Poll - Total Votes: 30
Raise taxes and government spending
Lower taxes and government spending
Nothing, it will fix itself
You can only vote on one answer.
To alleviate the recession
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Ontheroad · M
What did I miss? I know there is some discussion of it, but I didn't think it was "official" by any means.
FreeSpirit1 · F
@Ontheroad You didn't think what was official?
Ontheroad · M
@FreeSpirit1 That we are in a recession. That anyone was thinking of any actions to curb it. Inflation ahs started to wain, but I'm not sure what, at least right now, says we are in a recession.
FreeSpirit1 · F
@Ontheroad I don't know what "official" means , people have opinions, some say we are some say we aren't. Usually the people in power deny it but it isn't looking good.
Is there a person in the government who says "we are officially in a recession?" And what makes their opinion more relevant than anyone else's,,?
Is there a person in the government who says "we are officially in a recession?" And what makes their opinion more relevant than anyone else's,,?
Ontheroad · M
@FreeSpirit1 The government provides economic data that tells everyone how the economy as a whole is doing. So far I haven't seen anything other than a downturn in spending, due to inflation, that would signal a recession. I do think we are on the precipice, and the Fed's interest rate hike might push us over, but even the Dow is going back up from the lows it experienced in June. Just curious if I missed something.
FreeSpirit1 · F
@Ontheroad
When issues hurt politicians you get political answers,
The White House has pushed back against calling the current economy a recession. It is no doubt aware of the role the economy is going to play in the midterm elections.
Treasury Secretary Janet Yellen noted in a recent appearance on NBC's Meet the Press that while two consecutive quarters of negative growth is generally considered a recession, conditions in the economy are unique.
Treasury Secretary Janet Yellen noted in a recent appearance on NBC's Meet the Press that while two consecutive quarters of negative growth is generally considered a recession, conditions in the economy are unique.
When issues hurt politicians you get political answers,
Ontheroad · M
@FreeSpirit1 Okay, now I get what you are talking about. I generally don't pay too much attention to what the political fight is, or what reporter says what. I wait for economic data to come out that across the board tells us inflation is here. So far it's leaning that way, but even leading economists are saying we aren't there yet. And, if we do go into a real recession, it's the Fed who, in my opinion caused it. Raising the rates so fast and so high has hurt the economy.
FreeSpirit1 · F
@Ontheroad Inflation has been here for a while. A recession is usually 2 quarters of negative growth, except when it's being spun because a midterm election is coming up it seems.
Example:
White House economic advisor Brian Deese has claimed that a recession is not universally defined as two straight quarters of negative growth.
“It’s not the definition that economists have traditionally relied on,” Deese recently said regarding the aforementioned definition.
_____________
In 2008, Deese told the media, “Economists have a technical definition of recession, which is two consecutive quarters of negative growth.”
He now works for the White House and is spinning.
Example:
White House economic advisor Brian Deese has claimed that a recession is not universally defined as two straight quarters of negative growth.
“It’s not the definition that economists have traditionally relied on,” Deese recently said regarding the aforementioned definition.
_____________
In 2008, Deese told the media, “Economists have a technical definition of recession, which is two consecutive quarters of negative growth.”
He now works for the White House and is spinning.