U.S. has been in recession about a year, economists say

The National Bureau of Economic Research confirmed that the U.S. economy officially slid into a recession about 12 months ago. "We will rewrite the record book on length for this recession," said Allen Sinai, president of Decision Economics in Lexington, Mass. "It's still arguable whether it will set a new record on depth. I hope not, but we don't know." Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson pledged to revive the economy using all means at their disposal.

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