On the recordJanuary 25, 2008
I want you to know I will not read these two pages, but I want to highlight a couple of data points in this summary--two pages, four or five highlights. First, delinquencies, mortgage delinquencies, are up from the third quarter of 2005 to the third quarter of 2007, up by some 40,000 mortgages, just in Pennsylvania. Then, stretching back over a couple of years, we look at gas prices. From January of 2001 forward, up 86 percent, gas prices in Pennsylvania; home heating costs, in 1 year--1 year--up 18.9 percent; health insurance for families. If you look at it over a 5-year period, 2000 to 2005, health care premiums for families are up 45.8 percent. And one more: Childcare costs per month for two children, which is the case for a lot of families, childcare costs per month for two children is averaging $1,273. That is just in one State and a couple of highlights. We could go on and on, but I won't. There are the economic realities for Pennsylvania families, and we could add more to that list. So when a reporter or anyone else asks me, Are we in a recession, my answer is, You bet we are.
Source
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