It seems like good news always comes out when the weather’s bad, and bad news when it’s nice out. But when it’s a grey day to begin with and you look at this series of charts…

What the gap between potential and actual production means for employment.

Basically, a recovery could take 10 more years. Or never materialize at all. Given the devastating effects of long-term unemployment on recent graduates, young adults, and the very fabric of society, we have got to do better. And the stimulus was too much?!

At this point, it doesn’t even matter. Make-work, nothingness – anything is better than the worst-case outcome here.