On a very busy day in this Presidential race, both campaigns battled over a new report from the feds today that showed the US economy shrank in the third quarter of this year, a signal that a recession may already be here.

The report found that GDP in the US shrank at an annual rate of 0.3 percent in the July-September time frame.  A second quarter of negative growth would fulfill the technical definition of a recession (two straight quarters of reduced growth.)

Both presidential campaigns were quick zap out their reactions, which arrived on my blackberry literally seconds apart.

"The decline in our GDP didn't happen by accident - it is a direct result of the Bush Administration's trickle down, Wall Street first, Main Street last policies that John McCain has embraced for the last eight years and plans to continue for the next four," said Barack Obama in a written statement.  

"These policies didn't work then, they won't work now, and I'm running for President to end them.  We need to grow our economy by creating jobs, providing tax relief for middle class families, and helping people stay in their homes, and that is exactly what I will do as President," the statement concluded.

The McCain camp let their top economic adviser issue a statement, which returned the favor.

"Barack Obama would accelerate this dangerous course," said Doug Holtz-Eakin, who charged that "Barack Obama's new policies will destroy nearly 6 million jobs over the next decade."

"Obama is change Americans cannot afford," the statement summed up.

So as usual, one set of numbers, two completely different sets of reactions from the Presidential campaignt trail.