Hey Republicans! Newt for President?

[Carsman]

The horrible depression that was being predicted didn't happen

I disagree. It depends on who you ask. Many economists are referring to our current economic standing as a depression, others a double-dip recession. It's rhetoric at this point and opinions differ according what yardstick we use to measure our financial crisis.

While unemployment isn't as bad now as it was in the 30's, our debt situation is a thousand times worse. This isn't the only country suffering, so the term "depression" applied to the current world economy wouldn't be incorrect. Except in Canada and China, but fuck them.

It isn't going to be OK if we don't make major changes. This isn't self-correcting. We are self-destructing.

While I'm not homeless and I can pay my bills, many people are having a really hard time. It isn't a horrible recession at my house, but I have friends suffering. If you asked them, they would have a completely different view than yours.

From the economist's outlook:
It's a "recession" when you get laid off, and a "depression" when they laid off!