21.   But most here were fighting German demands to make fines virtually automatic by allowing exceptions only in a severe recession.

22.   But the long-term may prove more difficult if California heads into a severe recession.

23.   But we are in a severe recession.

24.   But wealth has not kept it out of a severe recession.

25.   Even there, however, Fischer cannot escape the critics who argue that those same high interest rates choked off growth and fostered unnecessarily severe recessions.

26.   Having finally shaken off a severe recession, the Northeastern states are making a gradual economic comeback.

27.   If it is a warning, perhaps a severe recession is coming, one that will send default rates on junk higher than ever before.

28.   If the stockpiles had continued to accumulate even as spending slowed, the economy might have faced a more severe recession later, he said Tuesday evening.

29.   If the United States falls into a severe recession, the trade deficit would decline, but foreign investments would probably decline more rapidly.

30.   In case of a severe recession, the company can discuss factory closings with the unions.