Perino On Whether The Country Is In A Recession: ‘I Don’t Know’
Perino On Whether The Country Is In A Recession: ‘I Don’t Know’
Today, reporters questioned White House Press Secretary Dana Perino on whether the U.S. economy is now in a recession. Perino, however, was unable to answer and became frustrated when reporters continued to push her:
Q Do you think the U.S. economy is in a recession?
MS. PERINO: You know I don’t think that we know. … So I couldn’t say. The classic definition of a recession is not something that we could determine now, or forecast. It’s something that people look back on. [...]
I don’t know — look, April, I don’t know if there’s — if we are in a recession right now. And in fact, there’s no one who could actually tell you if we precisely are in a recession right now. [...]
But I don’t think anybody could tell you right now if we’re in a recession or not. Those are just — those are determinations that come later.
Watch it:
President Bush and his administration have long resisted admitting that the economy is in trouble by quibbling about the technical definition of “recession.” In April, when most economists were saying that the U.S. economy was in a recession, Bush was insisting that it wasn’t. In March, he inexplicably claimed that “when people take a look back at this moment in our economic history, they’ll recognize tax cuts work.”
Even though Perino said that “no one” can say whether the United States is facing a recession, a new National Association of Business Economists poll finds that two-thirds of economists “say the U.S economy is in recession or will be by the end of the year — up from a little over half of those surveyed in May.” Data also indicate that the United States is in a consumer recession and a labor market recession. Even Sen. John McCain (R-AZ) has reluctantly admitted this point, although he too has said that a recession is just “a technical term used by people who are economists and make these kinds of judgment.”
Transcript:
Q Do you think the U.S. economy is in a recession?
MS. PERINO: You know I don’t think that we know. Obviously, this next quarter is probably not going to be a very good one. And we know that. But we know that the last quarter we had about a 2-percent* growth, which is not too bad. But obviously, right now we are in a very difficult situation. But we’re working every day to make sure that we effectively put this plan to use so that we can pull up out of it and return to job growth.
So I couldn’t say. The classic definition of a recession is not something that we could determine now, or forecast. It’s something that people look back on. [...]
Q Going back to Ann’s question about a recession, you said, we don’t know. And that’s somewhat — it’s changing, especially from February, when President Bush emphatically said, when I did an interview with him, he said, we’re not in a recession and we’re not going into a recession. He was emphatic about that. What has changed since February to now?
MS. PERINO: Just look at what’s happened. That’s what’s changed, is what’s happened in the market.
Q No, no, I’m not being flippant — I mean, I know things have changed. But he was emphatic, saying we’re not in a recession and we’re not going into one. And just last week you were standing at the podium — you and Tony stood at the podium, saying –
MS. PERINO: I wasn’t here last week.
Q Well, the week before. Okay, let’s –
MS. PERINO: I don’t know — look, April, I don’t know if there’s — if we are in a recession right now. And in fact, there’s no one who could actually tell you if we precisely are in a recession right now.
Q All I’m just saying –
MS. PERINO: Last February, when the President was asked that question — again, if you look at the classical definition of a recession, we were not in it. That doesn’t mean that the President doesn’t understand that people are hurting, or that people are concerned about their savings accounts, or people are concerned about their retirement accounts. But it doesn’t mean that we are necessarily in a recession. And I think we should be careful about throwing around words like that until there’s actually some evidence.
Clearly, right now we’re in a very distressing situation. And next quarter’s growth will not — well, I couldn’t tell you what the number is going to be, but it’s not going to be anything to write home about. So we are realistic in that regard. But I don’t think anybody could tell you right now if we’re in a recession or not. Those are just — those are determinations that come later. But that doesn’t take away from the importance and the gravity and the seriousness of the situation we have — are facing right now.
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If you are standing in a boat, and there is water around your waist, you do not have to ask anyone, “Are we sinking?”
Oh, how the obvious escapes these imbiciles.
October 7th, 2008 at 3:17 pm[technical definition of “recession.”]
It’s all about how you define what “is” is! Talk about being dumbed down; I are a educated Merican!
October 7th, 2008 at 3:19 pmPerino has learned the Bush mantra: Let’s just sit back and let history sort it out just how bad this trainwreck is.
October 7th, 2008 at 3:21 pmTechnical smechnical, how many of you have seen your dollars not buy jack-sh!t at the grocery store, how about filling up the car, oh and that job you lost, it ain’t coming back…I think that Perino and the rest of the criminal mafia in the white house should lose their jobs and have their bank accounts wiped out and their retirement accounts also, then we will see just how they think of word smithing about recession is.
October 7th, 2008 at 3:22 pmSo, Dana – is it daytime? Do you need to go outside and check?
We’ll wait.
October 7th, 2008 at 3:23 pmThese people don’t know squat. Gas demand fell nearly 10% last week. Prices compared to last year? Up almost 25%.
Republican supply and demand for gasoline is fiction. Layer that on top of environmentally safe drilling. Ike spilled 500,000 gallons of oil, Katrina ten times that amount.
October 7th, 2008 at 3:25 pmSomeday the economists will look back and affix start and end dates to this recession. You do not however need an economist to tell you that we are now in one. The stinking, rotting, Alzheimers-afflicted corpse of Ronnie Reagan could figure that one out.
October 7th, 2008 at 3:25 pm“MS. PERINO: You know I don’t think that we know. … So I couldn’t say. ”
to what are you referring to, dana? the fact that you’re a moron…yes, we’re pretty sure of that
October 7th, 2008 at 3:26 pmBut I don’t think anybody could tell you right now if we’re in a recession or not. Those are just — those are determinations that come later.
You mean like after the election? So you can do some revisionst history and blame it on the next guy?
Nice try.
October 7th, 2008 at 3:27 pmTry saying, “We’re in a Bush depression,” Dana dear.
October 7th, 2008 at 3:27 pm“a technical term used by people who are economists and make these kinds of judgment.”
Hell, they weren’t saying that talking point when they tried to blame Bush’s recession on Clinton…
October 7th, 2008 at 3:33 pmCut the cur some slack. She doesn’t know much about the Cuban Missile Crisis, Iraq, Iran, or much else of anything, why would she know shit about a recession?
October 7th, 2008 at 3:33 pmThis is a must see video discussion (about 10 mins) of our current economic crisis that actually dates from about 1 YEAR AGO. Shown on British TV. John Bird and John Fortune.
http://tinyurl.com/4eoetg
It is hilarious and scary at the same time, and a spot-on accurate and straightforward explanation of the mess we are in now—but again originally recorded over a year ago ( in it Bird and Fortune are referring to the summer of 2007, not 2008!)
October 7th, 2008 at 3:34 pmThe fundamentals of the economy are strong — no wait a minute. No we’re not in a recession, but just last week we were minutes away from a depression. Doesn’t matter what these people say, let’s just give them billions of dollars. Grrrr…
October 7th, 2008 at 3:37 pmSo, maybe we will skip the recession and go straight to a depression. Sure as hell there’s something seriously wrong with our economy. Sticking your fingers in your ears and going “na na na na” isn’t going to make it anything different. We’re either in a recession heading for a depression. Or if you want to get technical we can skip the recession and go straight to a depression.
October 7th, 2008 at 3:38 pmIt’s hard to steer the economic ship when all the captain and his jolly crew do is look backwards!
October 7th, 2008 at 3:39 pmHey, we’re only down another 350 on the DOW, tell us again, Ms Purina, how we’re gonna be eating dog food next year?
October 7th, 2008 at 3:41 pmIs it just my imagination, or are there parallels between Dana and Sarah? Neither of them seems to be able to answer a simple question unless they have a 3×5 card with the “official” answer on it.
It’s really not that hard a question to answer. Since the agreed-upon definition of the term appears to be “two consecutive quarters of negative growth”, the answer should be a simple yes or no. And if the data is massaged in such a way as to make a “no” answer possible, a simple acknowledgment that people are hurting would be prudent.
Dana’s answering the question the way she did merely makes her look like an idiot. And it makes her boss look out of touch with reality.
October 7th, 2008 at 3:44 pmI hate to stick up for Perino but I kind of have to because, technically, she’s right. Recession is a specific economic term with a specific meaning. And, until the data are in, poor little Dana really can’t say if we are in a recession.
But, the question is really kind of irrelevant. Regardless of whether we are in a “recession” (which I’m sure the data will show we are when it does come out) the economy is in real trouble and has been for some time. In fact, if you are in the bottom half of the income earners, there really hasn’t been any period during the Bush administration that didn’t feel like a recession. That shoud be the question: Are there problems with the economy? And what role did Bush’s economic policies – including massive deregulation and irresponsible tax cuts for the wealthy – play in getting us into this situation? Why have real wages stagnated for the majority of American’s? Why has such a huge income disparity occurred?
Bush has been a disaster on every level in every regard. January 2009 can’t come soon enough.
October 7th, 2008 at 3:44 pm“And I think we should be careful about throwing around words like that until there’s actually some evidence.”
You mean like: “The British government has learned that Saddam Hussein recently sought significant quantities of uranium from Africa.”?
October 7th, 2008 at 3:45 pm…and history will Judge Perino as the worst press secretary ever who served the worst U.S. President ever.
Ms Perino spends more on makeup each day than many Americans can afford on groceries for the day.
America has become a Monarchy. That top 1% are the Kings & Queens.
October 7th, 2008 at 3:46 pmEconomists still bicker about the definition of “recession” and whether or not we’re in one. Meanwhile, the jobless rate goes up, the number of people without health insurance goes up, the cost of goods and services goes up, the number of home foreclosures goes up, and the stock market goes down.
I noticed that this administration has a problem using the word “recession”. But they have NO problem using the word “crisis” (over and over again) when large financial institutions are threatened.
October 7th, 2008 at 3:50 pmHow many more points does the stock market have to lose before it is considered that we are in another depression? Anyone have an idea? It’s down 445 right now.
October 7th, 2008 at 3:52 pmI think the Administration has lost sight of why they were avoiding using the term “recession” in the first place. It seemed to me that they were originally avoiding it because Bush is overly concerned about his “legacy”, ironically enough, that he didn’t want the dirty r-word attached to his it.
In light/spite of the recent economic developements, which all evidence points to something FAR worse than a “recession”, they are simply sticking to their guns out of habit and trying to avoid this one negative term while doing absolutely nothing about it beyond making sure that their “friends” will profit in some way.
How does “The Bush Global Melt Down” sound for a legacy?
October 7th, 2008 at 4:01 pmRUC, I was going to suggest that this could qualify Dana for Vice-President under the wingnut affirmative action plan, but missmolly noted the similarities between the two before me.
October 7th, 2008 at 4:03 pmPerino can always get a job with McCain.
She’s just that good.
October 7th, 2008 at 4:03 pmIt’s only a depression if guys on wall street start jumping
October 7th, 2008 at 4:03 pmout of buildings. That’s the reason for “golden parachuts”.
Perino, as the White House Press Secretary, has one job. That job is NOT to inform the American people of the actual truth but to represent the administration’s interpretation of the truth. This has been truth with them all, not just Bush’s.
Of course we are in a recession, and have been for some time. But there will be no admission of such until they leave office, at which time, (shortly afterward), their story will be that we are now in a Depression…and it’s completely the Democrats and the new President’s (Obama)fault.
The administration sent Paulson in with that 3.5 page “bill,” to panic the legislature into giving away $700B of our money. This, of course, if AFTER $350B was doled out on an ad hoc basis to four other firms. And now, the Fed has decided to bail out a number of American companies with NEW loans, which they will print more dollars to cover. This, of course, will precipitate the impending depression and make it literally impossible for any real economic changes in this country. And in four years, the Republicans will retake the Congress and the White House having successfully blamed the entire debacle on the Dem controlled White House and Congress.
October 7th, 2008 at 4:07 pmrepugs are trying to tip the scales here… PBS poll:
Do you think Sarah Palin is qualified to serve as Vice President of the United States?
http://www.pbs.org/now/polls/poll-435.html
October 7th, 2008 at 4:07 pmI wish the candidate would discuss global poverty more. According to The Borgen Project:
October 7th, 2008 at 4:15 pm$30 billion: Annual shortfall to end world hunger.
$540 billion: Annual U.S. Defense Budget
RUCerious Says:
————————————————————-
…why would she know shit about a recession?
Is she too young to remember the Reagan years?
October 7th, 2008 at 4:17 pmRUCerious Says:
————————————————————-Hey, we’re only down another 350 on the DOW, tell us again, Ms Purina, how we’re gonna be eating dog food next year?
Have you seen the price of dog food lately?
October 7th, 2008 at 4:18 pmQ Do you think the U.S. economy is in a recession?
MS. PERINO: You know I don’t think that we know. … So I couldn’t say. The classic definition of a recession is not something that we could determine now, or forecast. It’s something that people look back on. […]
I don’t know — look, April, I don’t know if there’s — if we are in a recession right now. And in fact, there’s no one who could actually tell you if we precisely are in a recession right now. […]
But I don’t think anybody could tell you right now if we’re in a recession or not. Those are just — those are determinations that come later.
The determinations that come later like the difference(s) between the Cuban Missile Crisis and the Bay of Pigs that you do not understand , either ?
Well done , airhead…………..
October 7th, 2008 at 4:23 pmWhat, and she doesn’t know how many houses she owns either?
Republicans do nothing but lie, lie, lie, lie, lie, lie, lie, and tell more lies.
They are PATHETIC!
Eight is ENOUGH! NO MORE years!
October 7th, 2008 at 4:28 pmJust wait, within a month of Barack Obama’s presidency the reich will be wailing and whining about the recession or depression and will blame it on Barack and the democrats.
October 7th, 2008 at 4:41 pmRecession?????
Shit, I’m worried to death about a Depression.
I think the $700 Billion/$840 Billion bailout kinda answered the recession question and is the source for my Depression worries.
October 7th, 2008 at 4:41 pmDow closed down down 508 points. Well, George W finishes up his ultimate achievment. Regrettably there’s nobody to bail him out of this mess. Once again W will proudly stomp away, leaving somebody else (We, the People) to clean up his mess. Once again, Mission Accomplished!
October 7th, 2008 at 4:49 pmImpeach Pelosi, Cheney and Bush and Save the Constitution!
Remember who we elected to clean up Reagan’s mess?
October 7th, 2008 at 5:10 pmFor the last two weeks her boss has been on the news wringing his hands and crying the sky is falling the sky is falling give me buckets of money before we the whole economy crashes and she can’t say whether we’re in a recession. I can say that “technically” she’s an idiot.
October 7th, 2008 at 5:17 pmBush issued an Executive Order (decree, fiat, edict) that there is no recession.
Therefore there is no recession, the Emperor has spoken. Facts have a liberal bias and can not be trusted.
October 7th, 2008 at 5:19 pmDoes anyone else remember the 2004 election campaign that included that Bush inherited a recession and some other problems which put him in the roughest spot ever ?
Well if Clinton’s last year in office was a recession, and it was a whole lot better than the market for the last few years, why isn’t now a recession?
October 7th, 2008 at 5:38 pmThis entire segment has a Condi Rice, no-one-could-have-foreseen-the-writing-on-the-wall quality about it that we’ve come to expect from this administration.
Q: Dana, could anyone in this administration find their butt with both hands and a butt finding device?
A: I don’t think anybody could …
October 7th, 2008 at 5:46 pmWhen it gets too expensive to eat my stomach is in a serious depression.
October 7th, 2008 at 6:03 pmtony and lido
I almost feel bad for her, but not really.
October 7th, 2008 at 6:17 pmIgnoranceisnotbliss,
The number of points the Dow drops may have some correlation to a recession or depression but it has nothing to do with determining whether we’re in a recession/depression. Those are determined by the rate of growth (contraction) in GDP.
BuckieBoy,
Inflation is not typically associated with a recession (although they can occur simultaneously as in the “stagflation” of the 70’s) so citing rising prices is a poor indicator of recession.
You wouldn’t argue that a single hurricane means that global warming has gotten worse or that falling temperatures are proof of global warming. Same idea.
If we progressives want our arguments to be taken seriously, they have to make sense.
Regardless of whether we are in a recession, unless you’re rich, the economy has sucked for a long time and its getting worse.
October 7th, 2008 at 7:37 pmThis is understandable. When you’ve got about $19 million dollars, your family probably doesn’t notice a recession so much.
October 7th, 2008 at 8:21 pmWe have had job losses for 9 straight months (10 in the private sector). That is three quarters and a recession only takes two quarters. The answer is obviously yes.
October 8th, 2008 at 12:59 amMs. Perino. If you, and the folks you speak for, cannot see that the 2400 point slide in the DJI, the 195,000 lost jobs, or the 2 trillion dollars just lost from Americans 401K’s are causing a recession, then all of you folks do not deserve a job giving ELMO “test tickles” on the factory line let alone running a country! But y’all deserve a crack at serving on the front lines of your morally bankrupt invasion of Iraq.
October 8th, 2008 at 10:54 am