Note to pundits and economists: The average citizen DOES NOT CARE if the economy is in a recession or not.
What we see is our paychecks getting eaten away by increased costs of living and rising health care costs, neighbors and friends losing jobs, and lots of cash being thrown to the people who put all of us into this mess because of their greed (Wall Street) or incompetence (Federal Reserve).
So while the country as a whole may not meet the textbook definition of “recession,” lots of working people are in trouble.
The Subprime Mess Explained: http://docs.google.com/TeamPresent?revision=_latest&fs=true&docID=ddv7hj34_03774hsc7&skipauth=true