Our underperforming recovery in one graph (compared to 82, 91, 01 recoveries)

[웃 910]

Our underperforming recovery in one graph

By Ezra KleinThere are two measures you want to worry about after a recession: growth and "the output gap." The output gap is the difference between what your economy is producing and could be producing. The smaller your output gap and higher your growth, the better you're doing. We are not doing well:

Yes, a recession created by a financial crisis is a very different beast than the business-cycle recessions you see on that graph. But no, the fact that this recession did more damage to our economy and is proving harder to dig out of doesn't excuse the political system's decision tosimply stop trying. That tall red bar doesn't just show economic pain. It also shows economic underperformance. It shows ideas that aren't making it to market, goods that aren't being produced, factories that aren't being used, progress that isn't being made. I think it's easy for people to assume the economy is just a problem for the unemployed, but it's not. It's a problem for all of us.

http://www.washingto...pOUpI_blog.html

Edited August 2, 2011 by Lord Infamous

[Obama 2012 1,714]

When all markets are effected: banking, insurance, credit, manufacturing, etc... it is a whole new ballgame and is going to take a lot longer to recover.

Also the fact we have a lot more regulations and laws impeding development at this point in history than at any other time. i'm not just talking on a federal level either. In many cities, the simple thing such as putting up a sign means fees and paperwork galore.

[Mr. Big Dog 10,747]

If you think that growth looks bad now, you better get ready to see a lot less. Austerity, here we come.

[slim 1,530]

Obama's going to save us, guys! Don't worry. Have hope! He just said he's going to work with congress when they come back from vacation recess to create more jobs.

Give him some time. He can't do it all right away.

[Mr. Big Dog 10,747]

Obama's going to save us, guys! Don't worry. Have hope! He just said he's going to work with congress when they come back from vacation recess to create more jobs.

Give him some time. He can't do it all right away.

Congress ain't going to give him any win. If jobs are created at a faster clip, the economy grows at a faster pace and the deficit comes down as a result of that, those would be three wins. Not going to happen. I don't get why this White House is still not understanding this basic fact. They continue to operate under the patently false assumption that Congress is interested in seeing this country succeed. They're not. They're only interested in seeing him fail. They have the tools to set it up that way and that's exactly what they'll do.