For This Tepid Economy, There's Only One Way Out

A wonder of America is that, after every downturn, the economy inevitably regains its old, formidable growth trajectory. In good times, the U.S. expands its output faster than any other developed nation. That robust performance in the long periods between recessions is what we count on to consistently raise our standard of living, and what Americans consider normal. But now, the U.S. faces a future of diminished expectations like nothing witnessed since World War II. Unless business and government take daring, extraordinary measures, the economy is destined to generate sluggish growth that's more than one-third slower than in the past. That scenario will stifle incomes, pressure corporate earnings and stock prices, sap tax revenues required to support the rising ranks of...Read more...