New York Times columnist and economist Paul Krugman insists the United States is not in a recession, that the term is essentially meaningless, and current efforts to apply the label to the U.S. economy amount to “vitriolic” partisanship.
Krugman made the remarks in an interview on CNN’s “Reliable Sources” program that aired on July 31, days after the U.S. economy met the rule-of-thumb definition for a recession, with GDP coming in negative for two quarters in a row.
