New Fox News piece: The Recession May Be Over -- But the 'Recovery' Is Very Weak

My new piece at Fox News starts this way:

With the recession officially over, how does it stack up to previous ones? And how has the recovery been going? The National Bureau of Economic Research, a private organization, has declared that, according to their measures the recession ended in June 2009. Since then, we supposedly have seen over a year of "recovery."

How bad the recession has been depends on what you look at. The Carter recession during the early 1980s produced a higher unemployment rate, with unemployment rising to a peak of 10.8 percent compared with the peak this time of 10.1 percent. The recent recession also did not come close to reaching the 14 percent annual inflation rate that we reached during the end of 1980.

On the other hand, the recent drop in GDP was larger. The three worst quarters of this recession saw drops in GDP of 6.8, 4.9, and 4 percent, exceeding the 6.5, 4.9, and 3.2 percent drops during the early 1980s.

The most striking difference between these two recessions is how the economy recovered after they ended. . . .

Obama's spin on the new numbers is here.

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