04/12/2010 - Nancy Pelosi, at lunch, was making the point that this latest recession was not a typical cyclical downturn.
“This is a different creature,” she said, “and it demands that we see it in a different way.”
The evidence is stark. More than 44 percent of unemployed Americans have been out of work for six months or longer, the highest rate since World War II. Perhaps more chilling is a new analysis by the Pew Economic Policy Group that found that nearly a quarter of the nation’s 15 million unemployed workers have been jobless for a year or more.
Everything in Washington is a heavy lift. The successful struggle to pass last year’s stimulus package fended off an even worse economic disaster, and the Democrats have managed to enact their health care initiative. But the biggest threat to the health of the economy — corrosive, intractable, demoralizing unemployment — is still with us. And the deficit zealots, growing in strength, would do nothing to counter this scourge.
Read the entire op-ed A Different Creature on The New York Times Web site.