It Isn't Just Lost Jobs—It's the Lost Jobs Machine

http://online.wsj.com/article/SB10001424052748703431604575467484046408418.html?mod=WSJ_hpp_MIDDLETopStories

Two basic facts will tell you most of what you need to know about the political picture today.

Fact One: The unemployment rate is the most important of all leading political indicators.

Fact Two: If the August unemployment number to be announced Friday tops 9%—which seems highly likely—the jobless rate will have been above that level for 16 straight months. Already, the U.S. is mired in the longest such stretch of 9%-plus joblessness in more than a quarter of a century.