Read this piece by Steven Pearlstein in the Washington Post. He begins by explaining why the economy is not recovering:
Because we never really fixed underlying structural problems in the U.S. and global economies that had been building for decades and caused the financial and economic crisis in 2008.Those problems included a U.S. economy that was living well beyond its means, consuming more than it produced. They included an Asian economic boom that relied on intentionally undervalued currencies that led to massive buildup of dollar reserves and a massive credit bubble in the United States. And they included a new European system with a single currency and a single monetary policy but not the single economy that is needed to go along with it.
Here's one idea to spur recovery:
Over the next decade, the federal government is slated to spend hundreds of billions of dollars building roads, schools, airports, trolley lines and airport terminals, modernizing the air traffic control system, replacing computer systems and buying planes, ships, tanks, trucks and cars. Moving up some of that spending from years 8, 9 and 10 to years 1,2 and 3 won’t cost any more in the long run, or increase the long-term deficit any more, but could sure help put a floor under the economy in the short run.
So, what's the chance that will happen given what we've just seen in Congress?