• “There has never been a period since World War II where there were two quarters of declining GDP and the NBER (National Bureau of Economic Research) has not later declared there was a recession,” said Wayne Winegarden, senior fellow in business and economics at Pacific Research Institute and director of the institute’s Center for Medical Economics and Innovation. “Whether a recession is ultimately declared or not, this is a very difficult economy for too many families. Real wages are still in decline, and inflation is eroding families’ budgets.”

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