Get Used to 10%+ Unemployment

I highlighted CFO Magazine's consensus view: no hiring. Now a small-businessman hits the pages of the WSJ to say, "Me neither."

Unless government decides to pull back - seriously pull back - from the beach head it has established in the economy over the last four years, then unemployment is going nowhere. Headline of 10% but underlying of 15%+ for years. That is a national tragedy, and it didn't have to be.

UPDATE: Via Instapundit, I see that the folks at Vanity Fair have adopted the 'Gulliver-tied-down-by-Lilliputian-strings' motif to describe Obama's failures. And the folks at Reason rightly use this to point out the disconnected cluelessness of the elites. Of course it is not Obama that has been tied down. Obama has operated unfettered and as a result the economy has been lashed down into stagnancy. But you knew this, because you are a normal sensible person and not a clueless elite and because the most brilliant blogger operating in the blogosphere brought you this analysis complete with Swiftian analogy this time last year. But the folks in the Conde Nast Tower, predictably, do not.

UPPDATE: CEOs pessimistic too.