The jobless rate climbs to 9.5%, the highest since 1983. Even worse, the number of jobs lost has wiped out all job gains of the last nine years, which is the first time since the Great Depression that all the jobs gained in the previous business cycle were wiped out in the downturn.

'The Black Swan' says were still in the middle of a crash.

Liberal economist and columnist Paul Krugman believes that Obama has missed the lessons of the 1930s, which is that not enough stimulus was pumped by the Federal Government into the economy.

Some think the job picture is still bad because government is doing too much.

Larry Kudlow thinks the economy could be improved with tax cuts.