The Great Recession lingers on Main Street

Economists say the recession ended two years ago, but if this is a recovery, its been the weakest and most lopsided of any since the 1930s.

Corporate profits are up by almost 50% since the recession "ended" in June 2009. Compare that to the first two years after the recessions of 1991 and 2001, profits rose 11 percent and 28 percent, respectively. Where do those profits go? Surprise, the wealthiest 10 percent of Americans own more than 80 percent of outstanding stock.

The typical CEO of a major company earned $9 million last year, up approximately 25% from 2009.

On the other side, new jobs pay less than the ones that vanished in the recession. The average worker's hourly wages, after accounting for inflation, were 1.6 percent lower in May than a year earlier. Despite cutting what they owe the past three years, the average household's debts equal 119 percent of annual after-tax income. At the same point after the 1981-82 recession, debts were at 66 percent; after the 1990-91 recession, 85 percent; and after the 2001 recession, 114 percent.

The working class continues to set records. Social programs accounted for a record 18 percent of personal income in the last three months of 2010. Almost 45 million Americans are on food stamps, another record.

Is it much of a surprise that a majority think the recession continues? Some 29 percent of that majority will go even further -- they say it feels more like a depression.