[NYC Republican]

It is pretty clear that we are in a recession. He is just stating the obvious.

Based on what? The doom and gloom the MSM spits at us 24x7, to get the dems elected? Prove it.

[MBB1984]

The Dow is down approximately 15% from its October highs. The real estate market is in a mess. Several financial institutions have experienced losses. Earnings for corporations appear to be down across the board for the last quarter. Unemployment is rising. Gas continues to rise, reducing consumer discretionary spending. The dollar continues to fall, decreasing consumer discretionary spending.