The U.S. economy is underperforming, and the Federal Reserve’s low interest rate policies won’t reinvigorate it.
To cope with the financial crisis, President Obama pulled out all the stops — record deficits, bank and automaker bailouts, and sweeping financial reform — but since the summer of 2009, GDP has advanced only 2.2 percent annually. One out of six men ages 25 to 54 remain jobless, wages are stagnant and family incomes continue to fall.
History dealt Ronald Reagan a tough hand, too — he endured double digit inflation, interest rates and unemployment. Yet, his recovery accomplished 4.7 percent growth, vigorous jobs creation and a robust prosperity.