MSNBC’s Ruhle: It’s About Time We Get a Recession, It Would Be Normal & It Would Be Okay

EXCERPT:

RUHLE: “A recession is OK. A recession is a normal part of economic activity. We see them upturns and downturn. A recession doesn’t mean it’s a crisis. But if you’re a sitting president, you don’t necessarily want a recession on your watch. You want people feeling good. But seeing that we have been in economic expansion for the better part of 10 years, it’s about time we get a recession. But the fact that the Fed has already cut rates to try to extend this economic expansion, you think that would breathe more life into it -- and just remember, one of the reasons the economy has extended in positive growth for this long is the massive corporate tax cut that the president gave us a year and a half ago. He said that would result in GDP boom in business investment, three, four, five percent growth. We’re at 2.1 percent. That’s the average."
JACKSON: "Yeah."
RUHLE: "So when the president says this is the best economy ever, it’s not. And if we did face a recession, it would be normal and it would be OK."