[House Report 111-388]
[From the U.S. Government Publishing Office]


111th Congress                                                   Report
                        HOUSE OF REPRESENTATIVES
 1st Session                                                    111-388

======================================================================

                                                 Union Calendar No. 225

 
                     THE 2009 JOINT ECONOMIC REPORT

                               __________

                                 REPORT

                                 OF THE

                        JOINT ECONOMIC COMMITTEE

                     CONGRESS OF THE UNITED STATES

                                 on the

                          2009 ECONOMIC REPORT

                            OF THE PRESIDENT

                             Together With

                             MINORITY VIEWS




               December 19, 2009.--Ordered to be printed


                             ----------

                   U.S. GOVERNMENT PRINTING OFFICE

89-006                     WASHINGTON : 2009






111th Congress                                                   Report
                        HOUSE OF REPRESENTATIVES
 1st Session                                                    111-388

======================================================================




                     THE 2009 JOINT ECONOMIC REPORT

 December 19, 2009.--Committed to the Committee of the Whole House on 
            the State of the Union and ordered to be printed

                                _______
                                

            Mrs. Maloney, from the Joint Economic Committee,
                        submitted the following

                                 REPORT

                             together with

                             MINORITY VIEWS

 Report of the Joint Economic Committee on the 2009 Economic Report of 
                             the President



                      OVERVIEW OF THE 2009 ECONOMY



                           EXECUTIVE SUMMARY

The American economy has suffered the deepest and most 
protracted recession since the Great Depression. The financial 
crisis that began in the fall of 2008 had enduring effects on 
economic performance. The economy looked bleakest in January 
2009, when 741,000 jobs were lost in a single month. In the 
first quarter of 2009, real gross domestic product (real GDP) 
fell by 6.4 percent. Real GDP fell for four straight quarters, 
from third quarter 2008 through second quarter 2009.


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