Our economy is not doing so well as of now and lately. It feels like we are in spiral going down and we do not know how to stop it. According to the definition, a recession is a decline in a country’s real domestic product or negative real economic growth for two or more consecutive quarters in a year. I am learning about this in economics class, for macroeconomics. We talk about the economy every day and all the students keep saying we are in a recession but our professor gets mad because he states the obvious that it is two consecutive periods and that has not happened yet. Depends on who you ask, a lot of different opinion will surface.

Bush said in a White House Conference, as written in msnbc.com,

Bush’s view of the economy was decidedly rosier than that of many economists, who say the country is nearing recession territory or may already be there. “I’m concerned about the economy,” he said. “I don’t think we’re headed to recession. But no question, we’re in a slowdown.”

Prices are going up like crazy whether it is gas prices or food prices. I remember when the fridge could be filled with close to 300 dollars, now when my family goes food shopping, it takes 600 dollars or close. That is so crazy and the big issue is that prices go up but salaries don’t. I don’t know about many of you but my father is the only one who works and he has my tuition and my sister’s who is in a private elementary school and then the rest of the house. In my opinion, the economy is so bad and I never thought that it could happen in the US. I mean Europe is doing better than us and we are supposed to be the number one country, but I guess when you hit the top, there only down left. There is a stimulus package that is for 600 dollars from the government, but will that help? What will people do with that money? People are having problems but 600 dollars is like pocket change. Our economy is still at risk so we will have to watch what happens.