America added 44 million jobs in the 1980s and '90s, when both parties showed they had learned from past mistakes. The lessons have been forgotten.
This month marks the two-year anniversary of the official start of the recovery from the 2007-09 recession. But it's a recovery in name only: Real gross domestic product growth has averaged only 2.8% per year compared with 7.1% after the most recent deep recession in 1981-82. The growth slowdown this year—to about 1.5% in the second quarter—is not only disappointing, it's a reminder that the recovery has been stalled from the start. As shown in the nearby chart, the percentage of the working-age population that is actually working has declined since the start of the recovery in sharp contrast to 1983-84. With unemployment still over 9%, there is an urgent need to change course.
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Commentaries, Opinions, And Editorials
Upheaval in Syria, Somnolence in The White House -- Dan Friedman, Big Peace
Plotting a post-Assad road map for Syria -- David Ignatius, Washington Post
Helmand handover 'will fail' unless Pakistan border can be secured -- Ben Farmer, The Telegraph
As NATO pulls back, Afghans worry about Taliban's return -- Tom A. Peter, Christian Science Monitor
Sorry, Pakistan: China Is No Sugar Daddy -- Urmila Venugopalan, Foreign Policy
Who thinks Qaddafi could stay in Libya? -- Robert Zeliger, Foreign Policy
Our Iraqi allies deserve better -- L.A. Times editorial
Egypt can still lead the Arab world to democracy -- Washington Post editorial
A step forward, then a step back in South China Sea dispute -- Edmund Downie, Foreign Policy
Watershed moment in China's food security -- Michael Richardson, Japan Times
Is Colombia's FARC rebounding? -- Elyssa Pachico, Christian Science Monitor
Famine in East Africa. A Catastrophe in the Making -- Clemens Höges and Horand Knaup, Spiegel Online
Obama Legacy May Be Withering American Dream -- John Zogby, Forbes
Endgame for the US debt fight -- Charles Gasparino, New York Post
Debt crisis: In our competitive decadence, we face eurogeddon and dollargeddon -- Timothy Garton Ash, The Guardian
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