Read with caution.
In a nutshell, the article points out what we have been saying all along. The ranks of the poor are increasing for good. Millions of people who had the trappings of the middle class are no longer living the dream. That money has gone into the hands of a few elite, and they are not giving it up soon.
Reuters: The price of U.S. recession is paid in jobs
Since the recession began in December 2007, the jobless rate has climbed 4.6 percentage points to 9.5 percent, the biggest jump since the Great Depression. Worse, the mean duration of unemployment is now almost 6 months, the highest on record.
A big test for Obama comes next year, when most members of Congress face mid-term elections. High unemployment breeds angry voters, and a normal response is to toss out the incumbent.
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