According to this article...there hasn't been ANY recovery. We can't even maintain normal growth.
News from The Associated Press
LOS ANGELES (AP) -- The expected U.S. "Great Recovery" hasn't materialized and the economy has fallen short of even normal growth, according to a forecast released Wednesday.
The second-quarter UCLA Anderson Forecast said the growth of real gross domestic product - meaning the inflation-adjusted value of goods and services produced - is too small to help the nation climb out of its slump.
The figure was 15.4 percent below a "normal" growth trend, forecast director Edward Leamer wrote.
"To get back to that 3 percent trend, we would need 4 percent growth for 15 years, or 5 percent growth for eight years, or 6 percent growth for five years, not the disappointing twos and threes we have been racking up recently," he said.
"It's not a recovery. It's not even normal growth. It's bad," he wrote.
What say ye, Obamabots?
News from The Associated Press
LOS ANGELES (AP) -- The expected U.S. "Great Recovery" hasn't materialized and the economy has fallen short of even normal growth, according to a forecast released Wednesday.
The second-quarter UCLA Anderson Forecast said the growth of real gross domestic product - meaning the inflation-adjusted value of goods and services produced - is too small to help the nation climb out of its slump.
The figure was 15.4 percent below a "normal" growth trend, forecast director Edward Leamer wrote.
"To get back to that 3 percent trend, we would need 4 percent growth for 15 years, or 5 percent growth for eight years, or 6 percent growth for five years, not the disappointing twos and threes we have been racking up recently," he said.
"It's not a recovery. It's not even normal growth. It's bad," he wrote.
What say ye, Obamabots?