America is officially out of recession!

According to reports here in the UK today America is out of recession, but I wonder how many US POE'rs would agree with that?

So what do you say USA forum members, can you now breathe a sigh of relief or do you think we all have several more years to go before any good feelings return?

The UK, well we are still in it..........deep!!!

Thats exactly how things are here Barbara, but it was just announced on BBC Radio that America is out of recession! Seems to me somebody needs to start living in the real world. I don't think we are going to see any change here in the UK for at least 3 to 5 years, and by that time we will all be fed up with the then 'current' Government fueling yet more problems.

I always wonder how they make such a determination. People who have been out of work for months are still out of work. Companies (including mine) are scaling down and extending lines of credit just to make payroll.

My company hasn't given out raises or bonuses in at least four years.

Just who is the "they" who are out of the recession?

LOL Diana, the  'they' that are out of the recession, are those who are otherwise known to live with their head in the clouds! Those who are just a wee bit out of the reality state, living in fantasy land, because they couldn't possibly be in debt..they STILL have a credit card or 2 or 3...so how could THEY be in debt or without a job. LOL....

Those living in reality view it alot differently...much like those of us in the room here , who see it for what it is....a definite change in funds and lifestyle. Thank goodness We are not THEY...LOL

Hi Diana.  "They" are the economists who only present the raw data without analyzing it.  I heard about this on NPR today and the economic indicators are up for the last quarter, but they are attributing it to the govt. bailouts of the banks, the govt. mortgage credits for first time home buyers,  the govt. stimulus money to state and city governments and the cash for clunkers bailouts.  The govt. has shored up ever so slightly the associated industries, but now as the govt. well runs dry, it will be back down the slippery slope again.  One step forward, two steps back.  I think they're just desparate for good news for a change.

No, Ron, we're still in a recession over here too.

Arizona's in the same boat as Michigan, Rob.

Don't believe it....Oregon just had headlines today that since all this started 85 per cent of the state has sold out to other people outside of it..Personally...no better off then the year my hubby lost his job..I have credit card charges as high this year as what his wages were.For us its an lack of income..we just can't seem to get out of the need for $25,000 more in yearly wages and get everything that's necessary  to run our household. We buy a lot of the food around here, an lot of the kids' clothes are gifts from us, I keep joking with my hubby and telling him...See if your grandkids were your foster kids, this would all be paid for...I heard they lower property values, but not the property taxes this year also.

This is the news this morning:

Massachusetts governor, Deval Patrick, announced a host of cost-saving measures, including slashing up to 2,000 jobs...

Yep, looks like we're out of the recession.

Florida is certainly NOT out of a recession as of yet.  More and more lose their jobs every day.  You hear about big companies weekly that are scaling back or closing.  There are still NO jobs here....Other than the seasonal jobs which are just starting to hire now, and they are saying there won't even be as many seasonal workewrs as last year.

We NEED to bring jobs back into THIS country!