NEW YORK (MainStreet) — If it feels like the economic recovery is still more of a dream than a reality, this one slide should pretty much explain why.
The Treasury Department published a slideshow presentation online Thursday that sums up just how much the economy has improved during the Obama administration, including the 10 consecutive quarters of economic growth, the 3.7 million jobs added since early 2010 and the projected decrease in the national deficit.
But just for good measure, the Treasury included a single slide teasing everything that’s still wrong with the economy. The slide was simply titled, "Challenges Remain, More Work Ahead." As you can see above, that might be a bit of an understatement.
Total unemployment is still several percentage points higher than it was pre-recession, housing values remain at their lowest levels in about a decade and the median household income (when adjusted for inflation) is declining. In other words, Americans are working less, earning less and have less of a nest egg than they did in the years leading up to the recession.
Meanwhile, other advanced nations are recovering more slowly than expected from the global recession, thanks in part to the debt crisis in Europe, which could potentially weaken our recovery at home.
But how bad could it be? It’s only one slide out of 13, after all.
(Hat tip to The Atlantic for pointing out the report.)