The Flaw in the Reasoning…
Brad DeLong (pulled from an otherwise-spot-on post):
Two years ago, after all, the recession was over.
I started these from the first month after NBER’s recession end date. Note that there is one true, consistent growth line—sadly, that’s the mean (average) duration of Unemployment.
If this is victory, Pyrrhus of Epirus had nothing to complain about.