Note the light blue bars indicating recessions, in "Employment Measures and Recessions". We're already beyond the length of the '82 recession, widely considered to be the most recent serious
Note also the correlation in modern times between Republican presidencies and the onset of recessions. It's pretty stark. The only exception was a one-year downturn at the outset of Kennedy's administration.
There is more going on there, of course, than the mismanagement of the economy to the benefit of the wealthy typically at the center of Republican policy, especially since the 1980s. For example, people see a down economy and turn to Democrats, because Dems talk about jobs when you don't have one, and Republicans just tell you the economy is fundamentally sound, and that if you just cut rich peoples' taxes, prosperity will "trickle down." So the Dems have a more appealing message in down economies. However in some instances I think policy drove the recessionary tendency within Republican regimes.
Partisan moment over. The main point here is that we are already in the worst recession in living memory, and we're just getting warmed up, by the looks of things.
To anyone who considers our current economic condition to be the Dem equivalent of the Republican Reign of Fear for the last 8 years, I would say think again. The current downturn is very real, and very serious. We can disagree about ways out, but I don't think we can disagree on the depth of the phenomenon.
Thanks for the graphic data, and may I be phenomenally wrong as to the seriousness of what we're seeing now.