With the voluminous debate in Washington about the appropriate contours of a economic stimulus package, it should be mentioned (as it occasionally is) that a recession is not necessarily a lock. It's possible that such a package may not be needed. That possibility, however, appears to have narrowed significantly, as the Bureau of Economic Analysis has announced that fourth quarter GDP growth for 2007 was a molasses-in-December slow 0.6%. In the third quarter of last year, GDP grew at a brisk 4.9%. For all of 2007, the economy grew at a 2.2% pace. In 2006, GDP growth was 2.9%. For a more detailed look at the numbers, Dean Baker has a good piece up at CEPR.