If the recession debate turns out a little complicated to you, you are no longer the one one.

Gross domestic product has declined in back-to-back quarters this year, which is a commonplace sign to marketplace watchers of a recession. But even best professionals are debating whether or not that truth within the present financial system quantities to the “R” phrase this time.

The National Bureau of Economic Research is liable for making the respectable name on whether or not or no longer the U.S. financial system is in a recession, and it hasn’t made that call relatively but.

But does it even topic? How would a recession affect you?

Watch this video, as CNBC’s Emily Lorsch breaks all of it down.