Funemployment Now Even Funner!

While Washington pretends to tighten its belt, real America ought to get ready for even more of the new normal:

The year-over-year change in real GDP was 1.5 percent. There has never been a time since measurement commenced in 1948 when the annual pace of real GDP has fallen that low without the economy ultimately slipping into recession. Sub-2.0 percent readings are historically the warning signal.

The President’s jobs panel could not be reached for comment.