Photo: AP Images
The US Treasury department has put out a new presentation on the state of the economy.It’s fairly non-biased in its assessment of things.
The presentation acknowledges that the economy has a lot further to go to get to a real “recovery” but it does point out what the economy has done since the crisis, and what’s held it back.
There are some great charts in there on the connection between the unevenness of the recovery and various external factors like the Japanese earthquake, the debt ceiling debacle, and of course Europe.
It spends a lot of time on public sector fiscal drags.
It also attempts to clear up other misconceptions, such as the tax burden (it’s not that high) and regulations (which haven’t grown very much).
All in all, it’s a very useful presentation.
It's been non-stop growth since the crisis, but there have been major headwinds including the Japanese earthquake, oil, Europe, and the debt ceiling.
In terms of growth components, private sector has done much better than the public sector, which has been a drag
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