Okay. There’s some discussion happening now about what a recession is and who gets to define it. I’m not sure it matters, but I also care probably more than I should.

In the United States, the group that officially tells us when a recession began and when it ended is the National Bureau of Economic Research, the NBER. And their definition is “a significant decline in economic activity that is spread across the economy and that lasts more than a few months.”

But wait, haven’t I read that a recession is two consecutive quarters of negative GDP? So since we’ve had two negative quarters of GDP, we’re in a recession right?

To-may-to, To-mah-to

Okay, so whether we’re in official, bona fide recession or not…it matters, but it doesn’t really matter. The two quarters of negative GDP growth is one guideline for measuring the economy. The official declaring of a recession by the NBER is another way to measure.

It’s kind of like a blizzard. When I look outside and I see a boatload of snow, I’m like cool, blizzard.

Not so fast, says the National Weather Service! It defines a blizzard by three things: blowing or falling snow, winds of at least 35 miles per hour, and visibility of a quarter-mile or less for at least three hours.

And yet! The National Weather Service’s definition of a blizzard doesn’t really change the way I feel about there being a boatload of snow.

I get so emotional baby

So I was just cruising around reading things online when I started seeing this debate about what constitutes a recession and I was like…this is an easy problem to solve. There is a correct answer, and it’s been the NBER’s call for like…decades.

And I wasn’t really sure what all the fuss was about until I realized that wow if you’re feeling like this economy is not working for you and someone is trying to argue that actuallllly technicallllly we’re not in a recession?

Man, is that invalidating. Man, does that feel like your lived experience is being dismissed.

Everyone: putting on a coat and boots “I’m gonna get bundled up! It’s a blizzard out there.

Some obnoxious person: Actuuuuallllly the wind is below 35 MPH so it’s not technically a blizzard

No one: Wow, thanks so much for educating me!

Everyone: Dude, shut up

It matters but it doesn’t really matter

The same way the technical definition of a blizzard isn’t going to change how cold you get, the technical definition of a recession isn’t going to change the balance in your bank account. It’s not going to change the price of gas. Won’t change whether you get a raise this year. Won’t affect the balance in your 401k.

What’s actually happening

There are real downward pressures in the economy. The average American family is spending about $500 a month more this year to live the same life that they lived last year. (And $500 a month is enough to max out your Roth IRA. I’m just saying.)

Gas prices are still high, though falling as I type this. Inflation is around 9%.

And that’s just what’s happening recently to make life harder in the U.S. The growing wealth gap has meant this economy has been getting worse for the people with the least. That’s been happening for decades.

But there is good news

Unemployment is very low. Wages have grown for people typically making the least. Consumer spending is very strong. (And that’s really important. Consumer spending accounts for about 2/3rds of the U.S. economy.)

But those might not feel as up close and personal as other factors in this economy. Your feelings are valid. You’re entitled to your own experience and you’re entitled to your struggle either way.

Soooo what’s you’re saying is…?

I’m not an economist. I am a pedantic stickler, so I’m not going to say we’re in a recession until the NBER says it first. But I’m also not going to argue with anyone about it. Because one, I’m probably not going to change anyone’s mind. Two, it doesn’t really matter. And three, I’d rather spend my time debating the things that really matter. Like pizza vs tacos. (Your answer says a lot about you! And that is something I’m willing to debate in the comments.)