HOW’S THAT HOPEY-CHANGEY STUFF WORKIN’ OUT FOR YA? (CONT’D): Recession Nightmare: From Unemployed to Unemployable. “Long-term unemployment is becoming the defining feature of the Great Recession. As of September, the average time out of work stands at 40.5 weeks. Of the 14 million unemployed, about 45 percent have been jobless for more than six months, and over 70 percent of those have not worked in a year or more. No other business cycle since the 1930s has come close to matching the current experience.”

Related: We’ve had more productive depressions than this. “The U.S. now seems destined to live as countries in Europe did for the past several decades: ‘rich but struggling.'” Well, Europe was the model the Administration favored. This is what it looks like.