THEY DON'T MAKE 'EM LIKE THEY USED TO:

NYC Recession Not That Bad, Says Report (Jack Phillips, 3/28/10, Epoch Times)

The current economic recession may not be as dire as previously thought, according to a report released by the city's Independent Budget Office (IBO) on Friday.

The IBO, which is a non-partisan and publicly funded agency that analyzes New York City's budget, reported that previous downturns in the economy in New York City were much more difficult to climb out of. Additionally, Wall Street has made strides forward which have boosted the entire city's economy, indicated the report.

At least this one will count as a real recession even after all the numbers are in decades from now, unlike the other mere slowdowns since the early '80s.

Posted by Orrin Judd at March 29, 2010 5:15 AM