National Affairs: HOW GOES THE RECESSION?

Here is how some of the top U.S. economists answered the recession question for TIME last week:

Walter Heller: The basic curve of the economy now is a saucer — and very shallow. There is an upturn coming within the next three to six months.

Howard Ellis, University of Cali fornia: The depression — and when you have 7% unemployed, it is a depression — is serious enough to demand vigorous action. It may be with us for a year. I favor a tax cut immediately.

Roy Blough, Columbia University: Assuming that heavy unemployment does...