Some people talk about how great the economy is today.

Unemployment is at a 50-year low.

The stock market is seeing the second-longest run on record.

And many state governments are experiencing strong revenue growth.

But a new report from The Pew Charitable Trusts says that may be a little deceiving.

The Great Recession ended a decade ago -- in June 2009, after 18 long months -- a new Pew report says.

But it says the worst recession since World War II created a "Lost Decade" -- because of missed economic and revenue growth.

For people and governments.

Wages have remained well below where they would have been without the recession.

The report says that 23 states are still spending less from their general funds than they were before the recession, state funding for higher education is 13% below its pre-recession level and K-12 education funding is down in 29 states.

States investment in their infrastructure is at its lowest level in more than 50 years, local governments in 26 states receive less state aid than before the downturn and state governments employ 132,300 fewer people than they did when the recession hit.

Kentucky's "rainy day fund" would last three days, the report said.

Indiana's would last 32.9 days.

And the gap between state pension assets and liabilities has grown to $1.35 trillion, the report said.

It says, "The recent surge in tax revenue already has begun to sputter, raising uncertainty over how much of the gains were temporary in reaction to 2017's federal tax overhaul rather than a trend. Meanwhile, states face a backlog of spending demands that have piled up over the past decade."

States missed out on an estimated $283 billion in revenue during the past decade because tax collections dropped in 2008 and didn't recover until 2013 -- when adjusted for inflation, the report said.

As pessimists say, behind every silver lining, there's a cloud.

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