“Anxiety Lingers” is One Way of Putting It
On my way to work today, I saw a Washington Post headline: Recession is officially over, but anxiety lingers.
To be fair, the Post article offers a few reasons that might be the case, but Atrios gets right to the point:
So the recession was over in June ’09. Huzzah!
I know I’m a broken record on this, but there is no great mystery why the Dems are looking at potentially major problems in November. The economy is truly atrocious and has been for a long time. I remember just before the ’08 election – almost two years ago – betting a friend that unemployment would rise above 7.6%. At the time to many people 7.6% seemed to be a pretty crazy number, even in the middle of the unfolding crisis. Soon after the administration projected that unemployment would peak at 9% from Q1-Q3 2010, and then start declining without any stimulus. It’s now been above 9% since May 2009, including 3 months where it was 10%+. If I had traveled back in time to warn them of this state of affairs, they would have been more likely to believe the time travel part.
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