Is the United States currently in a recession? If you ask that question of economists, the answer would be no -- because the technical/textbook definition of a recession is at least three quarters in a row of declining Gross Domestic Product (GDP), and the GDP has actually been climbing a little the last few quarters (even though it has not been climbing enough to indicate a healthy economy).If you ask that question of the rich or the corporations, they would also say no. That's because they have completely rebounded from the recession -- and both are currently making record-breaking incomes and profits. They may be nervous because of the weak economy, but they are currently doing very well.
But as the chart above shows, most Americans believe we are still in a recession. They don't care about the technical/textbook definition of a recession. They just know that they, their family members, and their friends are still feeling the effects of the last recession. You don't need to tell them that poverty is growing, that millions are still unemployed, that most new jobs being created are minimum wage (or near it) jobs, that the median wage is falling, and that the middle class is shrinking. They are living those facts.
And since a significant majority of Americans have been unable to shake off the effects of the last recession, it should come as no surprise to learn they believe the United States is still in a recession. For them, that is just a fact. The chart below shows the demographic breakdown of those who believe the U.S. is still in a recession (i.e., those still hurting from the last recession):
These charts were made from information in the new NBC News / Marist Poll. The survey was done between January 12th and 14th of a random national sample of 1,200 adults (1,039 registered voters), and had a margin of error of between 2.8 and 3.0 points.
