FOX Business host Larry Kudlow reacts to concerns over the stock market plunge on 'Special Report.'

With the latest weak jobs report, increasing stock-market volatility and concerns that the Fed may be behind the curve in lowering rates, there has been renewed discussion of the R-word: recession. While the GDP may be in positive territory, middle/working class Americans who have been struggling financially for multiple years now feel as though they have already been experiencing a recession.

There’s a good reason for this — many Americans are in a personal recession.

Since the two quarters of negative GDP that we saw at the beginning of 2022, massive government spending (including nearly $2 trillion in yearly real deficits) and consumer spending has kept the GDP in positive growth territory. But the propping up of the economy at face value has come at a real cost for Americans.

CHICAGO FEDERAL RESERVE BANK PRESIDENT AUSTAN GOOLSBEE: I DON'T SEE A DEPRESSION COMING

For........

© Fox News