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The Government officials tell us that they don’t want to call a recession a recession unless its really one. But what would you say if they call a recession half year down the road ? Well I would call it betrayal and out right lies. Just think of it, they are telling us about it when every Tom and Harry on the street knows about it. According to a report published in MarketWatch today, the US economy actually entered a recession in December 2007:

Democrats on Capitol Hill said the news was hardly surprising and reiterated calls for an economic stimulus package. Senate Majority Leader Harry Reid, D-Nevada, said he and other Democrats will send a package to the White House as soon as possible after President-elect Barack Obama takes office in January.

“The announcement simply makes official what we have long known – with rising costs of living, rising unemployment, record foreclosures and depleted savings, we must do more to help families make ends meet,” Reid said in a statement. He said a recovery package must create good-paying jobs in the U.S., cut middle class taxes and instill confidence to stabilize the market.