As the returns from economic reforms tend to be slow and the short-term adjustment costs high, the government should have adopted generous social compensatory and adjustment-assistance policies.

ECONOMIST: New Zealand's reforms

If you're looking for grains of comfort, you could note that the seasonal adjustment was unusually high, even for June.

BBC: US jobs numbers suggest 'soft patch' may get stickier

Education policy needs to aggressively adopt the same kind of risk adjustment measures, if we hope to identify which high schools are truly doing the best job of educating their students and preparing them for the future.

FORBES: Evaluating the Quality of Charter Schools and Tertiary Care Hospitals

Some research suggests that such high deficits tend to be unwound quickly, by a rapid downward adjustment in the currency.

ECONOMIST: Worth less than a euro | The

Some say that at this time with a risk of monetary adjustment via higher central bank rates the hope premium may be unduly high.

FORBES: Optional Opportunity

With debts and house prices already so high, this will hurt consumer spending, but it could help to avoid a more painful adjustment later.

ECONOMIST: Economics focus

And the timing could not be more critical, what with the unemployment rate for young military veterans having recently risen as high as 27 percent (nearly three times the national average) and CBS News 60 Minutes reporting that the difficult adjustment to work and home-life, plus present economic realities, are contributing to a growing homelessness rate among veterans.

FORBES: Sports And Helping Military Veterans Transition To The Private Sector