The National Bureau of Economic Research, a nonprofit group of economists, determines when recessions start and end as part of its work in calculating the peaks and troughs of the business cycle.But, but, but....Governor Strickland told us last month Ohio was in recovery!
The bureau’s Business Cycle Dating Committee met last Friday and concluded that the jury is still out on the recession’s end, announcing that decision on its Web site Monday.
The committee reaffirmed that the recession began in December 2007, but its seven members couldn’t determine whether the recession has ended.
Awww that little liar.
The bad news is that historic economic trends suggest Ohio's recovery from a recession tends to lag behind the rest of the country's recovery. Considering the Governor's failures to prepare the state for a TURNAROUND!, that trend will continue.
I've got a feeling I'm going to be using this picture quite a bit over the summer.