The Not So Great Economic Recovery
Over the next three years, the economy must create nearly 13 million jobs to bring unemployment down to 5%, still higher than pre-recession levels. That requires 360,000 jobs every month and economic growth at 5% a year. After a deep recession, robust growth is possible if businesses have enough customers and capital, but economist Peter Morici believes that President Obama’s policies fail to address the underlying causes of the Great Recession. Neither enough demand nor financing are forthcoming.