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severe financial crises inflict sustained economic damage, and it takes a long time to recover.
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This is the truth. And also why I think everyone screaming about how their "plan" is going to create jobs is silly. Jobs aren't created unless consumer demand creates them. There isn't going to be demand until people work through the crushing debt they took on in the 2000s ...the credit cards, student loans, cars, the foreclosed mortgages, etc. No "plan" is going to speed up that process. Pointing fingers at Obama saying "you didn't create more jobs!" is just as foolish as Obama getting up there saying "my plan's going to create X number of jobs." It just doesn't work that way.