Larry Summers Coins a Phrase
US experiencing a 'statistical recovery and a human recession'
By John Johnson, Newser Staff
Posted Jan 30, 2010 10:58 AM CST
Larry Summers speaks at the Davos summit.   (AP Photo/Virginia Mayo)

(Newser) – The Wall Street Journal is taken with a phrase uttered by Larry Summers today at the Davos economic summit. The US is experiencing a "statistical recovery and a human recession," said the Obama economic adviser. The phrase "should resonate through much of the industrial world, where high and long-standing unemployment is increasingly becoming a huge domestic political issue," writes Neal Lipschutz.

Summers noted that 1 in 5 US men aged 25 to 54 are out of work and said a "reasonable recovery" would improve the numbers to 1 in 7 or 1 in 8. Any US increase in global integration "has to work for the people" in order to fly politically, Summer said. Lipschutz translates that into a simple message: "Job creation in the US is a crucial issue."

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Showing 3 of 11 comments
JohnnyDummkopf
Feb 1, 2010 6:28 AM CST
And I'd like a pony.
mehrheit
Feb 1, 2010 4:53 AM CST
Dammit Dammit Dammit, more proof we need an 'EDIT' button. "greyskull" was supposed to say "Greenspan"
mehrheit
Feb 1, 2010 4:52 AM CST
By the power of Greyskull, I...SUNK...THE DOLLAR!