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President Obama is down south courting red states voters by touring schools. At a 6th grade class in North Carolina, the President asks the children if they know the difference between a recession and a depression.

One little girl raises her hand. "My daddy says if the neighbor loses his job, its a recession, but if my daddy loses his job its a depression."

President Obama smiles at the little girl's answer, until she finishes..."and if you lose your job, Mr. President, my daddy says that's a recovery."