Why did the recovery stall? President Obama recently chalked it up to “bad luck.”
Even in more searching discussions of why the economy remains flat, politicians and economists largely ignore the elephant in the room: the Patient Protection and Affordable Care Act. Private-sector job creation stopped improving almost as soon as Congress passed the act.
This recovery has been anything but normal. Usually the economy accelerates after a deep recession. Entrepreneurs find new ways to employ millions of idled workers, and the economy quickly regains lost ground. The boom following the equally painful recession of the early 1980s enabled President Reagan to campaign on “Morning in America.”
Not this time. Two years after the recession officially ended, almost a tenth of workers remain unemployed. Both economic growth and job growth remain sluggish. James Sherk – The Tampa Tribune – Click To Read More…
I wish Congress had Mr. Sherk’s clarity. DSMW