Recession Now? : Planet Money The American economy appears to have shrunk last quarters. Most say it's still shrinking now.
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Recession Now?

The big, big news is the latest numbers on the U.S. economy. An initial report on the gross domestic product shows the economy shrank by 0.3 percent in the third quarter.

Economists had expected a decline closer to 0.5 percent. But they also think the economy is still shrinking. When the economy contracts for two quarters in a row, then you're not just worried about being in a recession -- because you're probably really technically in a recession.

Another bit: AIG's collapse is making life miserable for transit authorities around the nation, including in Washington, D.C.