This is not meant to be a political post! I am not trying to state who is or has been right, wrong, to blame, etc... when it comes to the economy of this country.
The point of this post is to put into perspective the magnitude of what we face in terms of recovery. The plot above is from the Washington Post with accompanying text:
That's job growth per month on the X axis, and how many months that level of job growth would take to get us back to pre-recession levels on the Y axis. Notice that adding new jobs at a rate of 200,000 a month would take us 150 months -- or 12.5 years -- to get back to normalcy. So far, only April has seen more than 200,000 in non-census jobs growth -- and even then, just barely.So basically, if job growth continues at the rate it has been recently, it will take another 12.5 years before we "recover" economically. If this decade averages the best growth we ever experienced in a single year of the 1990s, it will take ~5 years.
I'm guessing the reality will lay somewhere in between. That means realistically, no matter who is in office or what is their political officiation, the odds are it won't be until the end of the decade before we have recovered from this mess!
That's just a reality we will all have to deal with. Thoughts?