New Fox News piece: The Real Reason We Have the Highest Long-Term Unemployment Rate In 70 Years

My newest Fox News piece starts this way:

How bad is the economy? With a record percentage of the unemployed out of a job for more than six months, the media and politicians are claiming that the economy is in crisis. Politicians are again rushing to keep extended unemployment insurance benefits in place. The only serious debate among politicians was over how the benefits should be financed: should the program be paid for with spending cuts or tax increases or should we add to the deficit to cover the expense. And the Democratically-controlled Senate has passed the extension on Thursday by borrowing more money. President Obama signed it today.

Take the Los Angeles Times' concern: "Never since the Great Depression has the U.S. labor market seen anything like it. The previous high in long-term unemployment was 26% in June 1983, just after the deep downturn of the early '80s. The 44% rate this year translates into more than 6.5 million people." . . . .

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