Thursday, July 21, 2011

There Is An Urgent Need to Change Course

John Taylor, Wall St. Journal
This month marks the two-year anniversary of the official start of the recovery from the 2007-09 recession. But it's a recovery in name only: Real gross domestic product growth has averaged only 2.8% per year compared with 7.1% after the most recent deep recession in 1981-82. The growth slowdown this year"”to about 1.5% in the second quarter"”is not only disappointing, it's a reminder that the recovery has been stalled from the start. As shown in the nearby chart, the percentage of the working-age population that is actually working has declined...

Source: http://www.realclearpolitics.com/2011/07/21/there_is_an_urgent_need_to_change_course_259774.html

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