Here's something left out of the debates:

The median duration of unemployment is now 18.5 weeks, compared to a 50-year average of 8.2 weeks. The unemployment rate for those aged 16-24 is nearly 16%. According to a Rutgers study, 12% of those who have graduated college since 2006 are either unemployed or can't find full-time work -- and they're the ones with college degrees. In a study of men graduating from college between 1979 and 1989, Yale economist Lisa Kahn found that those entering the labor market during poor economic times earned about 7% less than those who graduated when the economy was strong, and the gap persisted for years: 17 years after graduation, Kahn found that those who began their careers when the economy was in recession were still earning less than those who started their careers when the economy was strong, adjusted for inflation and age. Those who stepped into a world of high unemployment were never able to shake it off. Testifying before Congress in 2010, Til von Wachter of Columbia University offered another startling stat: "The average mature worker losing a stable job at a good employer will see earnings reductions of 20% lasting over 15 to 20 years" when laid off during a recession. The longer unemployment lasts, the harder it is to recover from. We need a massive New Deal-style employment program.