The entire concept of a RECESSION, as the term would imply, is that you are going backwards.

In terms of the numbers, our economy has slowed to a mere crawl, but it is not going backwards.

As such, I find it difficult to claim we are in a recession. I think the chances that we actually will reach the point of a recession are very high...as the forces impacting the economy negatively in the last 2 years are still at work, and by most accounts still are having a strong impact.

Buffet is merely spouting off because he now has a political stake on the Democratic side of the ledger...so of course he will claim the economy is worse currently than the numbers truly suggest. In an election year, you can't take anyone's opinion as unbiased.

Neither Buffet or Bush is right IMO. There is no need to claim our economy is horrible. The problem is due to reasons we all recognize and understand. However, there is also no need to claim there is no cause for concern.

We aren't in recession, but we are heading there. Why the hell can't people recognize the truth rather than twist words to meet their own agendas?