Greenspan: US Not in a Recession

Former Fed Chairman Alan Greenspan said that the U.S. is not yet in a recession even though the possibility for a recession is likely greater than 50/50. The Democrats in Congress and the media have already declared us in a recession and with good reason - it would make it harder for McCain to win the White House if the U.S. public believes we are in a recession.

Incidentally, Greenspan is also endorsing John McCain as president.