Majority of States Now in Recession

What started out as a housing problem in a few states has now exploded into a full-fledged recession with a majority of states now in or dangerously close to recession. Just this weekend, President Bush's top economic advisor used the much-avoided word "recession" to describe the economies in some states. "We are seeing what I think anyone would characterize as a recession in certain parts of the country," Edward P. Lazear, chairman of the Council of Economic Advisers, said on CNN's "Late...Full Story
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