According to Barack Obama and Hillary Clinton, the economy is in great shape and safe from another financial crisis.
They believe more liberal policies to better distribute the benefits would deliver Americans into another golden age, but the facts belie all this.
Obamacare, state and local minimum wages laws, new federal overtime rules, and disincentives to work imposed by the recent buildout of federal social programs have raisedthe cost of hiring workers. Higher businesses taxes—especially for smaller enterprises–and tougher regulations have pushed up the cost of deploying capital.
Consequently, Americans are suffering through one of the weakest recoveries on record, andconditions in Europe are no better.