Chart of the Day: Here’s Why the Recovery Has Been So Weak

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I don’t really have any good hook for posting this chart, but it’s one of the most important ones you’ll ever see. It’s from the Wall Street Journal and it shows total government spending (state + local + federal) during the recession and its aftermath:

For about a year following the Obama stimulus, total spending was a bit higher than average for recession spending. But after that, spending fell steadily rather than rising, as it has after every previous recession. The result: a sluggish recovery, persistent long-term unemployment, and anemic wage growth.

Instead of responding to a historically bad recession with a historically strong stimulus, we responded with the weakest stimulus ever. Government spending is now more than 25 percentage points lower than normal. If you want to know why the recovery has been so feeble and unsteady, this is it. Republican presidential candidates, please take note.

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FOLLOW THE MONEY

Corporations and billionaires don’t fund journalism like ours that exists to shake things up. Instead, support from readers allows Mother Jones to call it like it is without fear, favor, or false equivalence.

And right now, a longtime friend of Mother Jones has pledged an incredibly generous gift to inspire—and double—giving from online readers. That's huge! Because you can see that our fall fundraising drive is well behind the $325,000 we need to raise. So if you agree that in-depth, fiercely independent journalism matters right now, please support our work and help us raise the money it takes to keep Mother Jones charging hard. Your gift, and all online donations up $94,000 total, will be matched and go twice as far—but only until the November 9 deadline.

$400,000 to go: Please help us pick up the pace!

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