Household Debt Is at Heart of Weak U.S. Economy: Business Class

In the midst of a downturn, good macroeconomic policy requires a solid understanding of the headwinds facing the economy. Unfortunately, policy makers often are more interested in their ideological biases than in facts. As a result, the debate has degenerated into sterile arguments: Those on the right are convinced that government intervention is holding back a robust recovery. The left argues that we need more public spending.

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