Is CNN Leading The Charge?!?

John A. Quayle blueoval57 at VERIZON.NET
Fri Oct 19 23:58:05 MDT 2007


October 18, 2007

Nearly half think U.S. in recession

  The New York Stock Exchange

WASHINGTON (CNN) ­ Nearly half of Americans feel 
the U.S. economy is in a recession, marked by a 
significant decline in economic activity, 
according to a survey released Thursday.

The poll by the CNN-Opinion Research Corporation 
found that while 46 percent of Americans hold that belief, 51 percent don't.

Black citizens were more pessimistic than whites, findings show.

Sixty-nine percent of black Americans feel the 
United States is in a recession, while only 42 
percent of white Americans feel the same way.

The National Bureau of Economic Research defines 
a recession as "a significant decline in economic 
activity spread across the economy, lasting more 
than a few months, normally visible in real GDP 
(Gross Domestic Product), real income, 
employment, industrial production and wholesale-retail sales."

The GDP measures the economy's output. It 
represents the total market value of all goods 
and services produced in the United States during a specified period.

According to the bureau, "a recession begins just 
after the economy reaches a peak of activity, and 
ends as the economy reaches its trough. Between 
trough and peak, the economy is in an expansion. 
Expansion is the normal state of the economy; 
most recessions are brief and they have been rare in recent decades."

The recession findings may be having an impact on 
President Bush's approval rating.

The CNN-ORC poll finds Mr. Bush's approval rating 
remains steady at 36 percent, but his approval 
rating among black Americans is just 15 percent.

CNN Polling Director Keating Holland says "a 
majority of whites also disapprove of Bush, 
although four in 10 have a favorable view of his 
administration. The president's approval rating 
has been stuck at 36 percent since late summer."

The sampling error for the survey is plus or 
minus 3 percentage points for all but the black 
vs. white breakdowns, which have a sampling error of 5.5 percentage points.

– CNN Deputy Political Director Paul Steinhauser

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