The problem, of course, is that the definition of an economic recession is two consecutive quarters of negative economic growth.  Given that we’ve yet to have even one quarter of negative economic growth we are, by definition, not in a recession.

So what, then, can we say about Obama’s proclamation about the economy?  Is he economically illiterate?  Or is he lying because he needs the economy to be in a recession in order to have electoral success?

And if the latter is true, what can be said of a political candidate who needs failure in order to succeed?