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2013-08-02 — huffingtonpost.com
``The ugliness of this recovery has to do in part with the fact that the crisis and Great Recession arose from a massive credit bubble, which tends to sap an economy's future strength. It also has to do with the fact that Washington, amazingly, has spent most of the recovery fighting over just how much to slash government spending despite this badly hobbled economy.
The problem is that all of this lost economic activity is doing permanent damage to the economy's productivity, forever lowering future growth. It is felt most directly in the job market, where the median length of unemployment is still far, far longer than at the worst of any other post-Depression recession. (Story continues below chart of misery.)''
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