No, more likely the lack of discretionary spending across all levels of government after the crash. That likely caused a stop to employment mobility, and left workers stranded for life.
The mechanism is taxes, the sudden arrival of higher taxes to cover government liabilities. Illinois, California, and New York; government took all the taxes for past due liabilities. Add the high corporate taxes and the income tax hike in DC.
Government everywhere imposing its bureaucracy on the citizens.
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