I guess one can only hide from reality for so long.

AP (via HuffPo):

President George W. Bush publicly acknowledged for the first time Friday that the U.S. economy is in a recession and worried aloud that Detroit's Big Three automakers may not all survive their mounting troubles.

Four days after the government made the long-suspected existence of a recession official, Bush used the word himself.

"Our economy is in a recession," Bush said flatly, speaking to reporters on the South Lawn only hours after the release of a government report showing the biggest month of job losses in 34 years. "This is in large part because of severe problems in our housing, credit and financial markets, which have resulted in significant job losses."

I wonder how long it takes before the rest of the 28%ers come around to the same conclusion. Place your bets in comments.