Half Way to a Lost Decade? Depends on How You Measure

Justin Wolfers on the Freakeconomics blog has a good post showing that if you measure GDP by income, instead of the more usual spending, the recession has been longer and deeper - and we still have not fully recovered. This explains more fully why people still say we are in recession when people in Washington tout that we have been in recovery for years. The two good charts from the post are: