Double Dip?

William Frey
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Posted: Sep 20, 2010 4:55 PM

According to a report by the National Bureau of Economic Research, any future economic downturn will be classified as a new recession, not a continuation of the one that began in December 2007.

The NBER said a tepid expansion period began in June 2009. The 18-month recession was the longest since World War II.

President Obama used the announcement to herald the "end of the recession" and portray his economic stimulus package as the right economic decision.

But perhaps Obama spoke too soon; a double dip recession or jobless recovery could turn Obama's "recovery" rhetoric into a political boomerang akin to George Bush's "Mission Accomplished" sign.