The next worst thing to recession
So the recession officially ended in June 2009. That is to say, things stopped getting worse and started getting better more than a year ago. The problem is that they're not getting better very fast. Fifteen months later, recovery looks a lot more like the lowest point of the recession than anything we'd consider normal:
That's the problem we're facing right now. David Leonhardt calls it "the long slog." It's not a recession, but it's the next worst thing.
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