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that consumers would find these various statements confusing.When economists talk about a recession ending, they usually mean that the value of the total goods and services in the country (called the "Gross Domestic Product" or "GDP") stops falling and begins to increase again. Consumers, on the other hand, judge economic conditions on the basis of their personal situation. The biggest factor for consumers is jobs and, unfortunately, unemployment typically continues to worsen even as GDP turns the corner and begins to improve. I think the President is trying to make sure that the public has realistic expectations of the recovery's impact on their lives.The recovery will be very precarious and there could well be setbacks along the way. Is has been so severe that the behavior of consumers and business will be much more cautious going forward, thus lengthening the recovery. There are positive signs for sure, there is considerably more promise than there was last September. Major improvement for consumers isn't likely to occur until next year. But we are seeing increased activity in the housing market, and stocks are showing signs of life. Both of these trends are good first steps to restoring confidence to the market.President Obama's speech today was only one part of his administration's economic policy/public relations trifecta. The President said there were "glimmers of hope" in the economy and "a vision of a much better America down the road." But this optimism was tempered with remarks that times were still tough. "We cannot rebuild this economy on a pile of sand," he said, referring to