The president, convinced that the only thing America has to fear is an insufficiency of fear, has warned that "disaster" and "catastrophe" are the certain alternatives to swift passage of the stimulus legislation. One marvels at his certitude more than one envies his custody of this adventure. ...more

February 11, 2009

WASHINGTON (AP) -- A panel of the National Bureau of Economic Research says the U.S. economy fell into a recession last year. The NBER says its group of academic economists who determine business cycles met and decided that the U.S. recession began in December 2007. Many economists believe the current downturn will last until the middle of 2009 and will be the most severe slump since the 1981-82 recession. ...more

December 1, 2008