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Sunday, July 3, 2011

Economic recovery is weakest since Depression

So let's focus on the deficit instead.  Sigh.  It's just what the repugicans want. They'd like nothing better than to get one of their lifelong dreams - gutting the federal budget - and at the same time sink the economy and send Barack Obama packing in 2012.
AP:
This is one anniversary few feel like celebrating.

Two years after economists say the Great Recession ended, the recovery has been the weakest and most lopsided of any since the 1930s.
Unemployment has never been so high - 9.1 percent - this long after any recession since World War II. At the same point after the previous three recessions, unemployment averaged just 6.8 percent.

- The average worker's hourly wages, after accounting for inflation, were 1.6 percent lower in May than a year earlier. Rising gasoline and food prices have devoured any pay raises for most Americans.

- The jobs that are being created pay less than the ones that vanished in the recession.

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