Unemployment, industrial production, GNP, and consumer spending are all down.  The US is in a recession.  These are unfortunate facts in our current economic environment.  We can compare this downturn to the 1981-1982 recession but it doesn't even come close to the Great Depression of 1932.  According to an article in the Wall Street Journal By Bradley Schiller, an economics professor at the University of Nevada, Reno and author of "The Economy Today" (McGraw-Hill, 2007),  Last year we lost 2.2% of our workforce, from 1930 to 1932 the job lost percentage were at 4.8%, 6.5% and 7.1%.   Unemployment rates are currently at 7.6%, compared to 10.8% in 1982 and 25.2% in 1932.  GDP is expected to decline by 2% in 2009 compared to 1.9% in 1982 and 13% in 1932.  Auto production shrank by 25% in 2008 compared to 90% in 1932. There were approximately 24 bank failures in 2008 compared to 10,000 in 1932 and 3,000 in 1987-1988.  The stock market declined by about 40% in 2008 compared to 90% in 1932.

Small businesses have enough challenges just trying to adapt to the quickly eroding business atmosphere.  Exaggerated economic claims and the media hysteria exasperates the already declining consumer confidence that is needed for an economic recovery.