Panel says US has been in recession since Dec. 2007

The U.S. economy has been in a recession since December 2007, the National Bureau of Economic Research said Monday. So, all the denials by Bush and McCain really mean squat; they tried to cover up and ignore the nation's economic peril to further their own political agenda only a few short months back. They knew the economy was tanking and they fiddled while Rome burned.

And to top it off, the Bush administration used a bailout scheme to secure a big payday for its banking buddies. If there was ever a reason to regulate the banking industry, you've found it. And if there was ever a time to investigate the machinations of the multinational corporate jet set, this is that time.

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