Finally some straight, hard talk on our economy; America will face worst times since 1982

The United States will experience its worst recession since 1982 -- federal financial officials say without identification and economists now say on the record, according to reporting today by The Financial Times in London.

The economy in 1982 was under President Ronald Reagan, who by his 1984 re-election saw the beginnings of an economic turnaround. Reagan claimed it was "Morning in America" in defeating Democrat Walter Mondale by a landslide.

Morning will not return to America in this millennium until at least 2010, experts say. And federal officials claim that things have deteriorated economically much faster than expected.

Overseas, China reported that its double-digit economic growth in its gross domestic product declined to single digits for the first time in four years. So a global decline in economic growth will not help matters here.

To read The Financial Times reporting, go to http://www.ft.com/cms/s/0/232eb4de-9e20-11dd-bdde-000077b07658.html?nclick_check=1