Poll Says 8 in 10 Americans Thinks We're In A Recession
Job creation versus deficit reduction is hot debate
A recession is defined as two straight quarters of negative growth. Technically, the United States isn't in one because the economy grew by a whopping 1% percent last quarter. The average American however can't hear that stat over the echos from their empty wallet.
A new CNN/ORD poll found that one in eight Americans feel as if we are in a recession citing a loss of jobs as to why. The unemployment rate in July was 9.1%, almost identical to June's numbers. August's rate will be announced today.
As with everything in this country, Democrats and Republicans disagree on what the main problem is. Dems say that President Obama should be focused more on job creation instead of deficit reduction. GOPers argue the complete opposite. Regardless, both sides are holding on to what they have and doing little to no spending, which in fact weakens the economy because no money is actually circulating.
If you are one of the fortunate folks who has a job, go buy something this Labor Day weekend. It may help somebody get hired.