The President conveniently omits the fact that this has been true for the past four years and he has failed to do what's needed.
This latest recession started in December, 2007. Since the Great Depression 75 years ago, recessions in America have lasted an average of 10 months, with the longest previously lasting 16 months, not counting this latest spooky downturn.
We've realized this by now.
When I was a kid, we dreamt about someday owning a "flying car" like the ones we saw in cartoons. Back in those days, I also heard my dad warn that "someday we will have another depression, where the financial world just collapses overnight."
The Great Recession is proceeding apace, but it cannot be seen in the undulations of the Dow Industrial average or the housing index. Rather, the more worrisome and dangerous recession is happening abroad as President Obama withdraws American influence when it is most needed.
Joseph S. Tanious, CFA and market strategist for J.P. Morgan Funds, explores the economic conundrums of the European Debt Crisis.
Reason's Anthony Randazzo explains why the Millennial generation stands to be the hardest hit by the Great Recession.
As calculated by the Joint Economic Committee on the current job growth rate.