a decline in a country’s gross domestic product (GDP), or negative real economic growth, for two or more successive quarters of a year.

Bush claims that he inherited a recession and also disputes that we are now in a recession.

As both cannot be true, it seems that “recession” is not a macroeconomic term, rather, a political one.  Read more 

You guys all know that economics make my head hurt, but this seemed pretty important.

Bottom line  Read more