Why Do We Continue To Languish in the Great Recession?

Here, George Melloan provides an excellent explanation of our enduring recession and elevated unemployment numbers. Mr. Melloan notes,

"In the late 1970s, the last time Americans suffered from manic interventionism from Washington, we had 'stagflation,' a combination of minimal economic growth and double-digit inflation. It wasn't pretty." 

Simply stated, it takes intrusive government to create and sustain a recession.  That's because only an intrusive government (and its sidekick the Fed) can create sufficient uncertainty to cause large numbers of businesses and households to make poor economic decisions all at the same time.  Recessions don't just happen, and they aren't caused by any sort of naturally occurring economic phenomenon.  Since I've explained this proposition at length here, here, and here) no need to write it all again.

The economic recovery will begin and be sustained when and only when businesses and households can see a believable economic future.  Neither businesses nor households can see that future right now.  All they can see is BHO and crew on their relentless march toward ever bigger-government socialism and red ink for the foreseeable and imaginable future.

Please vote carefully in November 2010.  We've got the wrong bus driver (to borrow a favorite metaphor), and he'll be around at least until January 2013.  But we can slow him down in November 2010.  Join the NPB.  Read all about the New Blood Party here.