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We’re Paying a Long-Lasting Price for the Short 2020 Recession

The Covid recession was only two months, but the supply-side damage was substantial.

Emissions rise from the Valero Energy Corp. oil refinery in Memphis, Tennessee, U.S., on Wednesday, Feb. 16, 2022. 

Emissions rise from the Valero Energy Corp. oil refinery in Memphis, Tennessee, U.S., on Wednesday, Feb. 16, 2022. 

Photographer: Luke Sharrett/Bloomberg

The 2008 financial crisis combined with the long, slow recovery in its wake hurt the economy in lots of ways — and we’re sill paying the price today.

Here’s a joke on Twitter that captures this dynamic.