From Seeds of Destruction to Seeds of Prosperity
The American economy is structurally unbalanced and
therefore stalling. Over the last
decade, because of a combination of over-consumption, under-investment,
excessive government spending and chronic trade deficits, our GDP has grown at
a rate 25% below its historical average and thereby failed to create at least
10 million jobs. We cannot resolve
these long term structural imbalances by relying on short term fixes. Instead, we must recognize these
essential truths and embrace long term structural reforms.