Click here for the presentation "What's Wrong (and Right) with the Recovery."
I. What Kind of Recovery?
- Relatively weak GDP rebound
- A jobless recovery
- A lopsided upturn
- Only partly transformative
- Inorganic and not yet sustainable
- The recovery policy gave us
II. More Headwinds than Tailwinds
- The debt overhang
- The phasing out of fiscal and monetary stimulus
- State and local government fiscal crises
- Continued housing woes
- The euro crisis, the rising dollar, and a new Asian export push
- Renewed world deflationary pressures
- Uncertain tax and regulatory environment
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