The Great Recession ended in June 2009, according to the body charged with dating when economic downturns begin and end.Yeah, that's a great comfort. I've been "working" in my chosen field the past year, but if I clear more than 15% of what I cleared in 2007, I'll be astonished. I'm employed, but I'm underemployed, and the current political climate wherein business owners lack confidence in the economic recover such that they are not expanding has greatly impacted me. I began looking forward to new budgets for 2011 in February of 2010.
But the news is little comfort to the millions of Americans still out of work, underwater on their mortgages or uncertain about the future.
I hope the people on the margins like this are enraged by the news and show up at the polls to punish incumbents. I'm obviously motivated enough without this kick in the pants, but it does feel like insult to injury.
Speaking to a town hall meeting in Washington, President Obama said the announcement about the end of the recession is further proof that steps taken early in his administration, including the economic stimulus package, were the right ones. But he cautioned it does not mean that the economy has recovered.
"Obviously, for the millions of people who are still out of work, people who have seen their home values decline, people who are struggling to pay the bills day to day, [the recession is] still very real for them," he said.
Thanks for the acknowledgment, Prez. Now, if you could send some kind of signal, anything at all, that businesses aren't an ox to be gored, maybe, just maybe, we'll start to see the kind of confidence enter the picture that you thought a "stimulus" package might engender. Alas.