“I actually compare our economic performance to how, historically, countries that have wrenching financial crises perform. By that measure, we probably managed this better than any large economy on Earth in modern history.” – Barack Obama
So say defenders of the sluggish recovery. But recent research belies that idea. The truth is our lackluster growth is the result of neglecting an essential economic concept.
According to Just Facts Daily, “even after the recession ended in 2009 average real GDP growth has been 35% below the average from 1960–2009, a period that includes eight recessions.” Moreover,