And now, for the actual substance of Winship's post, it's this: unemployment is really bad right now. Really, really bad. His chart is on the left: it shows that there are about five people unemployed for every job opening. A different chart is on the right. It shows there are about five people unemployed for every job opening. In words that even Mitch McConnell can understand, the unemployed aren't slacking off because they enjoy the vacation. They're out of work because there aren't any jobs.
Businesses aren't hiring more employees because people aren't buying as much, because they don't have as much money, because they're employed, because businesses aren't hiring, because...
It's a vicious feedback loop. TARP and ARRA helped the recession from turning into a depression, but things are still really bad.
The good news, of course, is that the already-rich are doing better than ever.
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