Professor Frank Lichtenberg was quoted in a Washington Post article on whether or not the recent economic downturn warrants using the word recession.
“That's not going to make a great deal of difference to people's economic well-being or their pocketbooks,” Professor Lichtenberg said. “The idea that if you're on one side of the line you're in a recession and if you're on the other side you're fine — that's not really the case. Clearly, we are in a very difficult period.”
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“That's not going to make a great deal of difference to people's economic well-being or their pocketbooks,” Professor Lichtenberg said. “The idea that if you're on one side of the line you're in a recession and if you're on the other side you're fine — that's not really the case. Clearly, we are in a very difficult period.”
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