“Cold-turkey deficit reduction would cause a significant recession. A recent analysis by the Congressional Budget Office estimated that going headlong over the cliff would cause our gross domestic product, which has been growing at an annual rate of around 2 percent, to fall at a rate of 2.9 percent in the first half of 2013.” FirstsHas BeensFallCausesHalfGrowingProductsColdOfficePercentRateSignificantBudgetsAnalysisGrossDeficitTurkeysCliffsReductionRecessionsAnnualsGross Domestic ProductCold Turkey Author:Christina Romer
“The FHA's success provides strong evidence that government can and should play a role in the nation's mortgage finance system. It also demonstrates that although government intervention in the economy during the Great Recession was messy, things would have been a lot messier without it.” ShouldHas BeensPlayGovernmentStrongNationsRolesEconomyEvidenceFinanceInterventionMessyMortgageRecessionsGovernment InterventionGreat Recession Author:Mark Zandi
“In the large sense the primary cause of the Great Depression was the war of 1914-1918. Without the war there would have been no depression of such dimensions. There might have been a normal cyclical recession; but, with the usual timing, even that readjustment probably would not have taken place at that particular period, nor would it have been a "Great Depression.” Has BeensWarMightCausesTakenParticularPeriodsNormalPrimariesDimensionsUsualTimingMight Have BeenRecessionsGreat Depression Book:The great depression, 1929-1941 Source: The great depression, 1929-1941
“The recession is over." This phrase has been used twice a year since 1973 by government leaders throughout the West. Its meaning is unclear. See: Depression.” YearsHas BeensGovernmentUsedLeaderWestPhrasesRecessionsUnclear Book:The Doubter's Companion: A Dictionary of Aggressive Common Sense Source: The Doubter's Companion: A Dictionary of Aggressive Common Sense