Oh, and we'll have the exact same irrational housing policy that did so much to trigger this bust.
Vive l'difference!
H/T Instapundit
KEVIN WILLIAMSON: News flash: This is not 1982, and Obama is not Reagan. “The important difference is this: There was a good reason for the Volcker-Reagan recession: defeating inflation. American voters may not be terribly economically sophisticated, but they sure as heck did notice when inflation went from 13.5 percent to 3.2 percent — in two years. . . . What, precisely, will we have to show for having come through the Obama recession(s)? A gigantic new federal entitlement program? Staggering amounts of debt? Persistently high levels of unemployment? That’s the best-case scenario.”
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