Wednesday, October 17, 2012
This Time The Recovery Is Really Different: It is Better
Romney and company have been arguing that we have recovered from past recessions more quickly than we have recovered from this recession. He and the economists that he has employed to make that claim are correct. We have recovered more quickly from the modest recessions that we had in past than we have from this recession. What they don't tell us that this recession is very different from the modest recessions from which we recovered more quickly. This article, written by two economists who have written the book on recovery from recessions that have resulted from financial crises, looked at the data and have concluded that our recovery from this financial crisis and crisis has been faster and deeper than those that they have analyzed in recent history. They are also Republicans, so it can't be argued that they are biased liberals.