Democrat Depression

September 1, 2008 RSS Feed Print
  • Comment (4)

Jimmy P. at the RNC - Before firing up to cover things here in St. Paul, I wanted to clear out my notebook from the DNC. This is one of my favorite bits, the final poll I took of Democratic delegates. (Other polls are here and here.) I asked 24 of them whether the economy was in an expansion, a recession, or in a depression. The results are stunning, I think, given that on the same day I took the informal survey, the Commerce Department reported that the economy grew at a revised 3.3 percent annual pace in the second quarter. The numbers:

1) 12 percent said "expansion"

2) 25 percent said "recession."

3) 63 percent said "depression."

A quick fact check: We've only had one quarter of negative economic growth in the past year, unemployment is still below 6 percent, incomes were growing briskly from 2003-2007, and productivity has averaged more than 2.5 percent a quarter during the past year and a half.

Tags:
Republican National Convention,
recession,
Democratic National Convention

Reader Comments Read all comments (4)

Add Your Thoughts
Your comment will be posted immediately, unless it is spam or contains profanity. For more information, please see our Comments FAQ.

Hi Jimmy P.

I also spoke to 24 people.

100% of them said you need a refresher course in statistical analysis . . .

Barry Ritholtz of NY 1:06PM September 03, 2008

Recession means we are in a slowing economy, and depression means we are at a low point.

I feel that we still face a further economic decline, although it would be nice if this were as bad as it gets.

Optimistic Republicans need to take a look at reality and see that the Clinton economy was a success story that needs to be replicated

-C of 10:43AM September 02, 2008

leave it to the liberals to scream the sky is falling as poster Scott of Ca has done. Its too bad that when Bush took office in the middle of a clinton recession, there wasn't the same kind of willy nilly, hand-wringing as is going on today. I remember when unemployment was at 5% during the Clinton administration and his cronies said 5% unemployment was actually considered full employment. Tell me now libnuts, which is it?

Scott of PA 9:31PM September 01, 2008

Capital Commerce

U.S. News business reporter Matthew Bandyk examines the issues, people, and debates that shape the nexus of political and economic life in the nation's capital.

advertisement

advertisement