On the contrary, I think it is pretty clear that the reason why real
wages haven't increased since 2001 is because of the economic recession
kicked off by 9/11.
Nope.
According to the National Bureau of Economic Research (which is the
private-sector authority on the matters), the national economy officially
entered recession in March of 2001,
five months before 9/11.
You're entirely missing the point. YES, the economy was slowing down. I've
already stated that. But that was very possibly just a cyclical event
destined to be short lived. 9/11 (and all actions as a result of) is the
factor that pushed things down so far and so fast, and that's why it hasn't
been easy to grow out of.
Add to that the costs of war and the far-reaching impacts of Katrina
(especially as it relates to employment), and I think we're doing pretty
well.
With regard to the recession being declared in March of 2001, that
classification wasn't made until late November of 2001--after the attacks.
It is very possible that the small decline would have never qualified as an
actual recession had the attacks never occurred.
