Quote:
“If you needed another metric by which to measure the failure of Obamanomics, new numbers released Friday show that two years after the recession ended the economy still hasn’t fully recovered. . . . Obama likes to blame the depth of the downturn for the “painfully slow” recovery. “We didn’t get into this mess overnight, and we won’t get out of it overnight. It’s going to take time,” he said — nearly a year ago.
The claim is bogus. This recession lasted only slightly longer than the 1981-82 contraction — 18 months vs. 16 — and wasn’t as severe when measured by peak unemployment.
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But the economy came screaming out of that downturn, and in three quarters was already well into an expansion. The 1973-75 recession lasted 16 months, but also took only three quarters to fully recover.
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Read the whole thing here:
http://www.investors.com/NewsAndAnal...c-Recovery.htm