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Did government spending make recovery the slowest since WWII?

Posted by B. Daniel Blatt at 6:57 pm - August 18, 2012.
Filed under: Big Government Follies,Economy

Unemployment“, writes Andrew Malcolm at Investor’s Business Daily, “has never been this high for this long post-recession” (via Instapundit).  And it doesn’t look likely to improve any time soon; “New Gallup unemployment data suggest an increase in the government’s seasonally adjusted unemployment rate for August when it is reported on Friday, Sept. 7.

The recession that ended three years ago this summer“, reports Paul Wiseman of the Asssociated Press

. . . has been followed by the feeblest recovery since the Great Depression, according an extensive review of the country’s economic ups and down over the past eight decades.

Since World War II, 10 U.S. recessions have been followed by a recovery that lasted at least three years. An Associated Press analysis shows that by just about any measure, the one that began in June 2009 is the weakest.

As weak as this recovery is,” offers Wiseman in a piece asking why this particular recovery is the worst since World War II

. . .it’s nothing like what the U.S. went through in the 1930s. The period known as the Great Depression actually included two severe recessions separated by a recovery that lasted from March 1933 until May 1937.

It’s tough to compare the current recovery with the 1933-37 version. Economic figures comparable to today’s go back only to the late 1940s.

Following both downturns, that in the late 1920s/early 1930s and that in 2007/08, the federal government responded by hiking spending and intervening in the marketplace.   Did those interventions, instead of increasing the pace of recovery instead have slowed it?

ADDENDUM:  Bear in mind that, after most downturns, the economy does bounce back. (more…)

Athene on Paul Ryan & the “meaningful” Republican campaign

“Americans”, observes Peggy Noonan in her latest column “are not ideologues“:

They think ideology is something squished down on their heads from on high, something imposed on them by big thinkers who create systems we’re all supposed to conform to. Americans are more interested in philosophy, which bubbles up from human beings, from tradition and learned experience, and isn’t imposed.

And this is, one reason, I believe that, as the 2008 campaign heated up in the fall, a good many wavering voters came to embrace Barack Obama.  He presented himself as a man who transcended ideology, an individual willing to listen to both sides and forge a consensus path.

In the balance of her column, this sage pundit details some of the challenges facing the Republican ticket now that Mitt Romney has tapped Paul Ryan as his running mate, but the campaign now at least has a theme:

Republicans know how meaningful this campaign became when Mr. Ryan was picked: He changed its subject matter just by showing up. And he is right in his central insight, which is his central political reason for being: America, to be strong again, must get its spending and revenues more closely aligned. It is irresponsible of the Democrats to ignore and punt and play with this great challenge. (more…)

If Joe Biden were subject to the Sarah Palin treatment. . .

“If”, muses , Vice President “Biden were the Republican vice-presidential nominee? Media outrage and indignation at the poor judgment of the presidential nominee, which would call into question the presidential nominee’s fitness for office.

Via John Galt Nole via Glenn Reynolds.

Do wonder why so few in the legacy media wondered at Joe Biden’s placing Franklin Delano Roosevelt in the White House and recalling television as a a medium for presidential communication at the outset of the Great Depression.  Not even Katie Couric who was ever so eager to press Sarah Palin to answer the questions she posed.

RELATED:MSM Ignores Biden’s Gaffes as it Ignored Palin’s RecordOn Biden’s Gaffes