The Wall Street Journal looks today at the duration and impact of the last few national recessions (with the help of economist John Cogan). They conclude with this:
The optimistic message in Mr. Cogan's comparisons is that recessions eventually end. How long they last, and how severe they get, depends in part on the choices our leaders make. The choices that Mr. Obama and Congress are making so far are not contributing to confidence, much less to recovery.
